R.J. Corman Railroad Company, based in Kentucky, recently finalized its agreement to purchase Carolina Southern Railroad this week for $13.9 million, effective Aug. 1.
R.J. Corman has agreed
to invest in an extensive overhaul of the line. The work will begin as soon
as the purchase is finalized. The project will take a minimum of four
months to finish.
Carolina Southern’s 80-mile line extends from Mullins, South Carolina, to Whiteville, North Carolina, then to Conway, South Carolina, then extends to Myrtle Beach, South Carolina, via another rail line. Carolina Southern has been out of service since 2011.
R.J. Corman said the deal should strengthen the region’s economy, as the overhaul will decrease industrial transportation costs. Traffic congestion should ease, with less need for commercial trucks to transfer goods. The revived line is expected to add approximately 30 jobs when it becomes fully operational.
“Our first step will be to more fully assess the rehabilitation that’s needed. Our railroad construction team will then efficiently bring it up to our high standards,” Craig King, R.J. Corman Railroad’s group president and CEO, said. “We also will meet with area business and industry leaders, and economic-development representatives to identify ways our railroad can expand their markets and save costs.”
“We appreciate this opportunity and realize its significance,” Bill Henderson, vice president of sales and marketing for R.J. Corman, said. “It’s easy to see there is tremendous opportunity for our company here and for the industries and agricultural businesses we will serve. We look forward to enhancing the states’ transportation systems.”
