Re: IPH sells Grenada
Author: JDM
Date: 08-04-2018 - 12:25
Not sure how Ed and IHP can sell what is still owned by The North Central Mississippi Regional Railroad Authority. This operating agreement was signed in 2015 and may have been a lease purchase but with the traffic on the line there is no way IHP has been able to generate enough revenue to pay the authority back for their purchased price. Not sure what they “sold” but the line is not worth 45 million Though the authority did get a grant for track repairs and upgrades. I do know they transferred the line from one of their 2 holding companies PBR to the SLRG with out STB authority and then had to go back and get STB authority to make the transfer.This occurred just last month.