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Norfolk Southern to buy regional railroad for $1.6 billion

KIFI

By JOSH FUNK
AP Business Writer

OMAHA, Neb. (AP) — Norfolk Southern plans to buy a regional railroad it already operates from Cincinnati for $1.62 billion. The deal announced Monday will give Norfolk Southern ownership of the busy 337-mile-long Cincinnati Southern Railroad that connects Cincinnati with Chattanooga, Tennessee. Currently, a Norfolk Southern subsidiary leases the railroad and runs as many as 30 trains a day on it. Cincinnati officials plan to use the proceeds from the sale to set up an infrastructure trust fund that will generate money to be used for future projects in the city. Voters there will also have to approve the deal before it can move forward.

Article Topic Follows: AP National Business

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