Thursday, May 31, 2018

Rail line to Churchill has new owner

Fairfax Financial has bought the rail line to the port of Churchill on James Bay, promising to do the repairs that Omnitrax of the United States failed to complete.

Omnitrax had an obligation to the federal government to get the line fixed so grain and supplies for Northern communities could once again be moved to Churchill.

It failed to live up to its commitment and now Fairfax has bought the business and the anticipated $86-million cost of fixing the line.

Fairfax is a Toronto-based investment company whose holdings include Cara, owner of restaurants such as The Keg and food catering businesses, and of Blackberry of Waterloo.