http://money.cnn.com/news/newsfeeds/...7_FORTUNE5.htm
Union Pacific: New Chicago-Area Terminal To Be Complete In June '10
September 03, 2009: 12:36 PM ET
Union Pacific Corp. (UNP) announced Thursday that the initial phase of its new Chicago-area intermodal terminal, designed to handle up to 500,000 containers annually, will be finished next June.
The
$370 million terminal, located in Joliet, Ill., will decrease congestion in the busy Chicago transportation hub and boost Union Pacific's intermodal capacity, the company said.
Once the facility is operational, for instance, Union Pacific said it will be able to run twice as many trains between Chicago and San Antonio, because Chicago-area congestion currently restrains traffic.
"Ultimately, the impact means good-paying jobs for the community, growth in the markets we serve and an expansion of the role of rail - one of the 'greenest' and safest modes of freight transportation," Union Pacific Chief Executive Jim Young said in a prepared statement.
Construction on the 785-acre terminal began last month. Union Pacific said the terminal can be expanded beyond the initial phased based on customer demand.