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Article: Norfolk Southern Announces $11 Million Investment in Philadelphia Navy Yard Intermodal Facility.
- Article from:
- Ecology, Environment & Conservation
- Article date:
- November 20, 2009
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Norfolk Southern (NYSE: NSC) and the Commonwealth of Pennsylvania are investing $11 million in the railroad's Philadelphia Navy Yard intermodal facility to expand track and parking capacity. The expansion is part of Norfolk Southern's multi-state Crescent Corridor initiative to establish a high-speed intermodal freight rail route between the Gulf Coast and the Northeast. The proposed investment -- $6 million from Norfolk Southern and $5 million from Pennsylvania -- will create the capacity to handle more than 72,000 containers and trailers annually. Construction is scheduled to begin in mid-2010.
"Because of its strategic location to Southeastern Pennsylvania, ...