January 12, 2011

Officials: PATCO rail line sale unlikely

PHILADELPHIA  — Last month, the Delaware River Port Authority (DRPA) attempted unsuccessfully to unload its PATCO commuter rail line, and its $20-million-a-year operating subsidy, philly.com reports.

Last week, the board asked DRPA staff to look into whether a market exists for PATCO. However, with $45.3 million in operating costs and only $24.8 million in revenue projected for 2011, and a $194 million program just under way to rebuild PATCO's 40-year-old fleet, officials say PATCO is not an attractive asset for a private buyer. For the full story, click here.

 

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