JACKSONVILLE, Fla. — CSX said it will invest $160 million over the next several years to complete one of the most important transportation projects in the country — the National Gateway.
“Through the National Gateway, CSX and its public partners are working together to vastly improve the quality and flexibility of the eastern rail network,” said Michael J. Ward, CSX chairman, president and chief executive officer. “With today’s new $160 million commitment, CSX will have obligated a total of about $575 million over several years to better meet the needs of our customers, our states and our ports.”
Total project costs are approximately $850 million, and state and federal partners are investing more than $280 million to help secure the substantial public benefits of the National Gateway. These public partners recognize that investing in the quality of the transportation infrastructure is essential for American competitiveness.
The National Gateway investment will be made over several years and, taken together, represent one of the largest project investments in company history. The amounts are included in the company’s long-term capital plans.
Most of the $160 million investment announced today will expand and improve the century-old Virginia Avenue Tunnel in Washington, D.C.and provide double-stack train clearances in Maryland, West Virginia and the District of Columbia.
