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SURFACE TRANSPORTATION BOARD PROVIDES TIME FOR FURTHER ENVIRONMENTAL ANALYSIS OF "NORFOLK SOUTHERN" & "PAN AM RAILWAYS'" APPLICATION FOR JOINT CONTROL & OWNERSHIP OF "PAN AM SOUTHERN"
The Surface Transportation Board (Board) today announced that an Environmental Assessment (EA) will be prepared addressing potential environmental issues raised by the proposal of the Norfolk Southern Railway Company (NS), Pan Am Railways, Inc. (Pan Am, a noncarrier holding company), and two of Pan Am's railroad subsidiaries, the Boston and Maine Corporation and the Springfield Terminal Railway Company (collectively, "Applicants") to acquire, and to jointly control and own, Pan Am Southern LLC, a new railroad to be formed.
Initially, Applicants had asserted that the proposed transaction would not require formal environmental review under the National Environmental Policy Act. Based on comments expressing possible environmental concerns, however, the Board has found that an EA is warranted. Accordingly, it has vacated the remainder of the procedural schedule established by the agency in June 2007, to allow time to complete the environmental review. Once the EA is complete, the parties will have 30 days for public review and comment. Following the comment period, final environmental documentation will be prepared addressing the comments and making final recommendations on environmental issues to the Board. The Board will issue a final decision on the proposed transaction as soon as possible after the completion of the environmental review.
Today's decision was issued in
Norfolk Southern Railway Company, Pan Am Railways, Inc., et al.—Joint Control and Operating/Pooling Agreements—Pan Am Southern LLC, STB Finance Docket No. 35147
, and is available for viewing and downloading via the Board's Web site at
, under "E-Library," then under "Decisions & Notices," beneath the date "9/25/08