The federal Surface Transportation Board has rejected an application from Great Lakes Basin Transportation for a tri-state rail line which would have bypassed Chicago’s busy terminal and reduced congestion. The 420 km rail line would have operated through parts of Wisconsin, Illinois and Indiana. Great Lakes argued the proposed rail line could reduce 30-hour freight transit times through the Chicago area to 8 hours. In turn, it would provide relief to suburban commuters in cars and trains as more freight trains bypassed the downtown area.
The financial information in the application for the project was “fundamentally flawed,” the Surface Transportation Board stated. Great Lakes didn’t provide enough information so that regulators could determine the financial feasibility of the planned rail project, the regulators said. “GLBT’s current assets of $151 are so clearly deficient for purposes of constructing a 261-mile rail line that the Board will not proceed with this application given the impacts on stakeholders and the demands upon Board resources,” it stated. The Board’s decision came after years of planning and several hearings, followed by a formal application submitted in May.
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