Wednesday, December 26, 2007

 

CN links to Alberta oilsands

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Last summer's head-on crash of two CN locomotives in Prince George will seem like nothing when this new CN dream comes true -- with Vancouver as its Gateway to World Riches. - BC Mary.

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CN buys key rail link to Alberta's oilsands
Last Updated: Monday, December 24, 2007
The Canadian Press

Canadian National Railway Co. has signed a deal to buy the Athabasca Northern Railway Ltd., a key railway link to the oilsands region of northern Alberta.

CN said Monday it will pay $25 million for the railway and will invest $135 million in upgrades over three years to improve transit times and service consistency.

"CN's investment and partnership agreements with key shippers will allow the parties to maintain important rail service to Lynton, Alta., a point near Fort McMurray, home of existing and future oil sands development," CEO Hunter Harrison said in a statement.

"While Athabasca Northern's current traffic volumes are too low to keep it going as a stand-alone operation, we and our shipper partners see the Athabasca Northern playing a critical role in one of the world's largest construction projects." [Not to mention, the world's largest pollution project, visible from space. - BC Mary]

The purchase and upgrade plans are premised on long-term traffic volume guarantees that the company has negotiated with Suncor Energy Inc., OPTI Canada Inc. and Nexen Inc., the company said.

"Suncor has a long history with the Athabasca Northern and, with this announcement, we're looking forward to the line's future with upgraded operations," says Mike Ashar, Suncor executive vice-president.

The 325-kilometre Athabasca Northern connects with CN at Boyle, Alta., about 160 kilometres north of Edmonton.

CN said it plans upgraded rail, ties, bridges and new ballast to allow greater volumes of northbound shipments of construction materials and machinery to support oilsands development.

http://www.cbc.ca/money/story/2007/12/24/cn-athabasca.html

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Comments:
what does this have to do with the idea of shipping oil and perhaps natural gas to Prince Rupert for export to China which owns a large segment if not all of the resources in Fort McMurray? Just checking. Cheers.
 
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Here's the connection. On this web-site, see:

* "B.C. Rail was part of the Continental plan" 13/14/07 and

* "NAFTA-NASCO Super Highway right through B.C." 13/16/07

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"Canadian National Railway Co. has signed a deal to buy the Athabasca Northern Railway Ltd., a key railway link to the oilsands region of northern Alberta."

If they are in an acquisition mood, perhaps CN should try to acquire (buy) BC Rail, since, according to Gordo the drunken tourist, it hasn't been sold.
 
Koot,

What do you think of the 3 ports being amalgamated as of 1 Jan. 08?

Makes it much more convenient, doesn't it, if anybody is trying to sell off more "operations" eh?

Ya don't suppose Roberts Bank is one of those ports ...

I don't recall seeing any mention of this in the 3 big CanWest daily newspapers, do you?

Sometimes I think that B.C. will become the virtual roadside to this NAFTA SuperHighway.

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