Norfolk Southern's new Charlotte Regional Intermodal Facility will support growing rail traffic and less crowded highways
Published on Wednesday, 02 May 2012 12:12 Written by TradersHuddle Staff
CHARLOTTE, N.C., May 2, 2012 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) officially broke ground today on the Charlotte Regional Intermodal Facility at Charlotte Douglas International Airport. The facility, which will transfer trailers and containers between trucks and trains, will be capable of 200,000 lifts per year and will replace Norfolk Southern's existing intermodal facility in downtown Charlotte.
"Charlotte is a key hub on the Norfolk Southern intermodal system and on our Crescent Corridor, a new rail intermodal network under development stretching from New Jersey to Memphis and New Orleans," said Norfolk Southern CEO Wick Moorman. "This facility will greatly expand our ability to handle intermodal traffic and move more freight off the nation's overburdened highway system and onto the rails.
"Norfolk Southern appreciates all that the City of Charlotte, the Airport, and Mayor Foxx have done to move this project forward. We are hopeful that we can partner with the City and with the U.S. Department of Transportation to expand this project and generate more economic opportunities for Charlotte."
"Today's groundbreaking is a big deal for the City of Charlotte and our community," said Charlotte Mayor Anthony Foxx. "Norfolk Southern Corporation and the City of Charlotte have been working on this agreement since it was envisioned 15 years ago by the Airport and Charlotte businesses. This intermodal facility is projected to bring billions in business, and places Charlotte even more in the manufacturing, distribution, transportation, and economic growth business."
Because its existing 40-acre facility cannot be expanded, Norfolk Southern is building a more efficient, easily expandable, 200-acre terminal between two runways to handle the anticipated growth of intermodal traffic. A new interchange on I-485 that has just been completed will connect the facility to the region's highway system.
The $92-million facility will be constructed with the assistance of $15.7 million in federal funds and some financial support from the State of North Carolina. The Federal Highway Administration, the U.S. Department of Transportation, the North Carolina Department of Transportation, and the City of Charlotte provided extensive help in planning the facility. Construction is expected to be completed in late 2013.
Norfolk Southern Corporation is one of the nation's premier transportation companies. Its Norfolk Southern Railway subsidiary operates approximately 20,000 route miles in 22 states and the District of Columbia, serves every major container port in the eastern United States, and provides efficient connections to other rail carriers. Norfolk Southern operates the most extensive intermodal network in the East and is a major transporter of coal and industrial products.
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