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Article: Providence and Worcester Railroad Company Announces Telecommunications Agreement.
- Article from:
- Business Wire
- Article date:
- February 16, 2001
CopyrightCOPYRIGHT 2001 Business Wire. 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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Business/Technology Editors
WORCESTER, Mass.--(BUSINESS WIRE)--Feb. 16, 2001
Providence and Worcester Railroad Company (AMEX: "PWX") announced today that it has entered into a twenty-five year, system-wide license agreement with Vitreum Networks, LLC, which requires Vitreum, at no cost to the Railroad Company, to install, maintain and operate a dark fiber backbone (conduits and fiber optic cable) on the Railroad Company's system. As consideration for the use of the right-of-way, Vitreum will pay the Railroad Company an annual license fee equal to the greater of a certain minimum annual payment or a certain percentage of the revenues from the lease of ...