04:14 PM EST - Canadian National Railway Co. : said it reached an agreement with the City of West Chicago, Ill., addressing the municipality's concerns with CN's acquisition of the principal lines of the Elgin, Joliet & Eastern Railway Company. CN completed its EJ&E acquisition on January 31, 2009. Under the agreement, CN will assist in the creation and maintenance of quiet zones, install safety fencing, implement noise mitigation, provide emergency response personnel training and emergency communication improvements, and address specific transportation issues unique to the community. Under its comprehensive voluntary mitigation plan and agreements with 11 communities, CN expects to spend more than $60 million, an amount that, together with the $21 million in costs paid to the Surface Transportation Board's environmental consultant, represents more than 25 per cent of the $300-million acquisition price for the EJ&E. This is in addition to the $100-million that CN plans to spend for infrastructure improvements along the EJ&E and the added costs of other STB-imposed mitigation. Canadian National Railway Co.
shares T.CNR are trading up $1.48 at $40.93.
