BC Rail bidders down to four
VICTORIA, (July 18, 2003) — The British Columbia government has short-listed the bidding for further talks in the privatization of BC Rail down to four parties.
The bidders include Canada’s two largest railroads, Canadian National Railway and Canadian Pacific Railway, as well as U.S. bidders RailAmerica and a partnership of OmniTrax and Burlington Northern Santa Fe.
The B.C. government said the bidders would conduct due diligence, including railway inspections and facility tours. The winning bidder would assume operations and management of the freight service, while the privatization process foresees BC Rail’s right-of-way, railbed and tracks remaining publicly owned.
BC Rail is Canada’s third-largest railway, with a network of 2,315 kilometers.
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