TORONTO — CN has sold two rail line segments in the Greater Toronto Area to Metrolinx for $310.5 million Canadian.
GO Transit’s Richmond Hill commuter rail service operates over a portion of CN’s Bala Subdivision. Metrolinx is acquiring a segment of the subdivision from approximately Rosedale Valley Road north through the Don Valley to CN’s main east-west freight line north of Steeles Avenue near the Toronto-York Region border.
Metrolinx is also acquiring a segment of CN’s Oakville Subdivision from a point near 30th Street in the Etobicoke area of Toronto and terminating just west of the Fourth Line in Oakville, Ont.
“We are pleased to transfer ownership of these important commuter rail lines to Metrolinx to further its future service objectives, while protecting CN’s operating rights to ensure continued service to its freight customers,” said Luc Jobin, CN executive vice-president and chief financial officer. “CN has a strong partnership with Metrolinx and we will continue to support commuter rail as a sustainable mode of transport in the Greater Toronto Area.”
GO Transit, a division of Metrolinx, is Ontario’s inter-regional public transit system linking Toronto with the surrounding regions of the Greater Toronto and Hamilton Area. GO carries more than 57 million passengers a year in an extensive network of train and bus services that spans over 10,000 square kilometres.
