CSX Announces Corridor Expansion Plan

Freight rail company CSX Corp. said Thursday it planned to expand capacity on its existing rail lines between Chicago and Florida and between Albany, N.Y., and New York City.

“These investments will enable CSX to meet demand for freight service to the rapidly growing Southeast while continuing to improve service in the populous Northeast,” CSX Chairman and President Michael Ward said in a statement.

Construction on what the company called the two “key corridors” is expected to begin in 2006 with the installation of rail sidings, signals and other infrastructure improvements.

As a result of the expansion, CSX said that its overall annual capital expenditures will be between $1.3 billion and $1.4 billion for the next two years, about 30% to 40% higher than in the past three years.