R.J. Corman announced that it has finalised the transaction for purchasing the Carolina Southern Railroad. The value of the deal is USD 14 million. The two companies had originally planned to close on the deal by 1 August.
Carolina Southern Railroad operated an 80-mile line between Myrtle Beach and Whiteville, NC and stopped operations on the line nearly four years ago due to structural problems on some bridges.
R.J. Corman took possession of the former Carolina Southern on 17 August and has already started minor maintenance around the overgrown line. The company wants to begin freight activity on the railway within six months.
Share on:
