The rail line between Sudbury and Sault Ste. Marie has been sold.
According to the Northern Business Journal, the line was purchased from Genesee & Wyoming to Brookfield Infrastructure and GIC of Singapore with the deal closing on December 30th.
Genesee & Wyoming Canada of Montreal operates the Huron Central between Sault Ste. Marie and Sudbury, and the Ottawa Valley Railway, which runs between Sudbury, North Bay and Temiscaming, Quebec.
The US$8.4-billion transaction – first announced last July – had been on hold pending a review by the U.S. Surface Transportation Board, but officially closed on December 30th.
The line is vital for moving raw goods and product to Essar Steel in Sault Ste. Marie, Domtar in Espanola and EACOM in Nairn Centre.