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Article: DM&E seeks to cash in on PRB growth.(Dakota, Minnesota and Eastern Railroad's plan for operations in Powder River Basin in Wyoming)
- Article from:
- Railway Age
- Article date:
- July 1, 1997
- Author:
CopyrightCOPYRIGHT 1997 Simmons-Boardman Publishing Corporation. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Dakota, Minnesota & Eastern, a Class II railroad not noted for first-class service, wants to turn itself into a super-railroad for the upper Midwest. To do this, DM&E would spend $1.2 billion in a five-year project to rebuild and upgrade 650 miles of its existing line and to build about 250 miles of new railroad to extend operations into the coal-rich Powder River Basin of Wyoming.
DM&E appears to have lined up impressive support from politicians in Wyoming, South Dakota, and Minnesota. Lining up private financing may be a bit tougher, and the railroad has retained Morgan Stanley & Co., Inc., "to assist in identifying strategic partners to join in the DM&E's ...