Maine will spend $20.1 million to buy 233 miles of rail lines to retain freight-rail service in the state’s northeast sector.

The funds will come from $11 million of bonds sold in 2010 and 2009, and $7 million of state reserve funds, among other sources. In addition, the state will gain $10.5 million of federal TIGER II funds for railway improvements that will provide faster and more reliable service.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.