Nicholasville-based R.J. Corman Railroad Co. announced plans to buy an 80-mile stretch of railroad spanning North and South Carolina.
The company said it will pay $13.9 million for the short line located in the eastern part of both states, running from Mullins, South Carolina, to Whiteville, North Carolina, as well as Conway, South Carolina.
The acquisition, facilitated by a two-state commission, is only the first step, the company noted, as extensive work is needed to rehabilitate the line.
“Our first step will be to more fully assess the rehabilitation that’s needed so we can efficiently bring it up to our high standards,” R.J. Corman Railroad Group President and CEO Craig King said in a statement.
The company said fixing the line will cost millions and is expected to take about four months. The work will begin after the sale is complete, which is expected in about a month and a half.