The rail yard, which will cost $40 million, is a joint venture between Pan Am Railways and Norfolk Southern. It will serve as the main hub for distribution along the Patriot Corridor, which is a 155- mile strip of high- speed freight rail running from Mechanicville to Ayer, Mass.
Of the $40 million, $3 million will come from the state.
"Pan Am Railways is pleased to partner with the state of New York, Saratoga County, and the towns of Mechanicville, Halfmoon, and Stillwater on this important regional transportation project," said Pan Am Railways President David Fink. "This new terminal will add much-needed freight capacity to the Capital Region, and is critical to the success of our Pan Am Southern joint venture."
The rail will carry automobiles and other consumer products.
The project is expected to receive federal approval in October and construction is set to begin in during the first quarter of 2009, and end by April 2010.
Norfolk Southern of Virginia operates 21,000 miles of track across 22 states and the District of Columbia, and serves every major container port in the eastern United States.
Pan Am of Boston maintains over 2,000 miles of track in Maine, New Hampshire, Massachusetts, Vermont, Connecticut, New York and Atlantic Canada according to a press release from Norfolk Southern.""