CSX initiative will include new intermodal terminals

CSX Corp. has launched a $700 million public-private infrastructure initiative to create an efficient freight transportation link between Mid-Atlantic ports and the Midwest.

The project, known as the National Gateway, involves CSX (NYSE: CSX) building or expanding several high-capacity intermodal terminals. It will include the company spending $130 million on two new intermodal terminals in Wood County, Ohio, and Columbus, Ohio.

CSX's other part in the initiative will be working with state and federal government agencies to create taller clearances beneath public overpasses along the railroad to allow trains to double-stack containers.

Content Continues Below

The National Gateway is expected to provide greater shipping capacity to and from the Midwest and reduce truck traffic on crowded highways, while creating thousands of jobs.

CSX, which has committed $300 million to the National Gateway, said it will work with several states and the federal government to secure additional funding.

The National Gateway will enhance three rail corridors that run through Maryland, Virginia, North Carolina, Pennsylvania, Ohio and West Virginia:

• The I-70/I-76 corridor between Washington, D.C., and northwest Ohio via Pittsburgh.
• The I-95 corridor between North Carolina and Baltimore via Washington.
• The Carolina corridor between Wilmington, N.C., and Charlotte, N.C.

The National Gateway was launched at Dublin, Ohio-based Pacer International, a CSX customer, with Ohio Gov. Ted Strickland, who pledged to work with state and federal officials to support the initiative.

"More and more, the nation is becoming aware of the tremendous safety, economic and environmental benefits that railroads create," CSX President and CEO Michael Ward said, noting one train can carry the load of more than 280 trucks. "The National Gateway leverages those benefits to the fullest by combining the resources and expertise of the public and private sectors."