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FRA DENIES DM&E LOAN
Author: Larry W. Grant
Date: 02-26-2007 - 14:38

Word has just begun to clear the wire services that the Federal Railroad Railroad Administration has apparently denied a $2.3 billion loan to the Dakota, Minnesota & Eastern Railroad, according to a source familiar with the case.

Officially, however, FRA’s Steve Kulm was saying as late as 5 p.m. EST that no announcement had been made.

The FRA cited what it called “unacceptable risk” associated with the project. DM&E wanted to upgrade its existing line and expand 280 miles into the coal-rich Powder River Basin of Wyoming.

I will try to post the latest update in tomorrow's "Railroad Newline"

Larry

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Subject Written By Date/Time (PST)
  FRA DENIES DM&E LOAN Larry W. Grant 02-26-2007 - 14:38
  UPDATE - Re: FRA DENIES DM&E LOAN Larry W. Grant 02-26-2007 - 14:57
  Re: UPDATE - Re: FRA DENIES DM&E LOAN Earl Pitts 02-26-2007 - 21:17


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