CG Railway will relocate to New Orleans

CG Railway will relocate to New Orleans    CG Railway, a wholly owned subsidiary of International Shipholding Corp., said it plans to move its U.S./Mexico water rail service from the port of Mobile, Ala., to the Port of New Orleans, where the company will convert the Elaine Street Wharf into a dock for a rail ferry.
   CG Railway will occupy a 60-acre site on the Mississippi-Gulf Outlet, using two rail yards operated by the New Orleans Public Belt Railroad and the Port of New Orleans.
   The relocation is expected to bring as many as 95 additional vessel calls per year to New Orleans. CG Railway, which has moved 10,500 rail cars annually between Mobile and Coatzacoalcos, Mexico, anticipates accommodating 25,000 railcars each year at its new site.
   The company is investing more than $20.5 million overall for the New Orleans site, equipment upgrades, and improvements to facilities in Mexico.
   'We are the only U.S. port with six trunk line railroads, and this new service will build upon our strengths,' said Angus R. Cooper II, chairman of the board of commissioners of the Port of New Orleans.
   The Elaine Street Wharf has remained largely unused since the Port of New Orleans decided to close the Public Bulk Commodities Terminal a decade ago.