Hudson Bay Railway provides update on sale discussions and repairs to the line

WINNIPEG, July 10, 2018 /CNW/ - Hudson Bay Railway (HBR) today provided the following update with respect to the potential sale of the line and the repair process:

Sergio Sabatini, President of Hudson Bay Railway, said, "We are pleased to announce that our negotiations with the consortium resumed on Monday, and we are once again in active discussions to finalize the sale of the HBR. We believe that an expeditious transfer of ownership of the line is best for all concerned, and we are making every effort to advance sale discussions. This includes initiating the repair process, so that we are in the best position to complete a transaction."

HBR confirmed that an RFP has been issued through its engineering firm AECOM. AECOM will be coordinating site visits with six interested contractors later this week, each of whom will have the opportunity to conduct an inspection of the line via helicopter before finalizing their bids.

The company also reaffirmed its intention to appeal the recent CTA decision, noting that it has initiated a multi-step legal process. Although the repair process has been initiated in compliance with the CTA decision, the HBR, as previously stated, is not in a position to fund completion of the repairs in the absence of a sale agreement or government funding.

HBR will provide further updates as events warrant.

SOURCE Hudson Bay Railway

Media contact: Hilary Sloan, [email protected], 647 262 8084