A rail line to serve Volvo’s new auto plant in South Carolina has received initial approval from the Joint Bond Review Committee. The state panel approved plans for Palmetto Railways to buy land to link the Volvo plant with a CSX rail line. Palmetto Railways is part of the South Carolina Commerce Department. The plans will have to receive final approval from the South Carolina Fiscal Accountability Authority.
Palmetto Railways plans to spend USD 3.5 million for the 37-kilometer rail line. The proposed railroad is among USD 200 million worth of incentives South Carolina promised Volvo in 2015 to get the Swedish automaker to build its USD 1 billion plant in Berkeley County.
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