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Market Chatter: Judge Says Construction On Massive CN Rail Hub Can Continue -- For Now
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Market Chatter: Judge Says Construction On Massive CN Rail Hub Can Continue -- For Now
May 13, 2024 12:22 PM

02:53 PM EDT, 05/13/2024 (MT Newswires) -- The Federal Court of Appeal says work on a massive rail-and-truck hub in the Greater Toronto Area can go ahead pending its decision on an appeal of a lower court ruling that halted construction, The Canadian Press is reporting Monday.

It noted the stay issued by the Appeal Court allows Canadian National Railway Co. ( CNI ) to continue to build the facility in Milton, Ont., for the time being. The $250-million project aims to double CN's existing line of tracks in the area and construct a terminal for containers to be transferred between transport trucks and freight cars.

Federal Appeal Court Justice George Locke said that while a halt to work on the undertaking would have no effect on CN's long-term viability, any delay is "detrimental to the public interest."

"The harmful effects of construction emissions appear to be outweighed by the costs to CN of suspending its construction activities, and more importantly, the public interest in the completion of the project," the judge wrote earlier this month.

Final word on whether work can proceed will rest on a later ruling from the Federal Court of Appeal.

The Federal Court decision in March set aside a green light issued by the federal government in January 2021 and sent the project back to Ottawa for reconsideration -- a ruling that is now under review.

(Market Chatter news is derived from conversations with market professionals globally, and/or from other media sources. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 172.54, Change: -1.68, Percent Change: -0.96

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