CSX Corp has recently announced a $160 million investment to improve its freight-carrying capacity between Virginia and the Midwest. CSX is the second-largest publicly-traded railroad in America, and in recent years, they have invested as much as $860 million to improve freight rail between various regions in the country.
Much of the money will go towards renovations and repairs to infrastructure that would allow clearance for taller railway cars that are able to carry two shipping containers instead of one – an upgrade that will effectively double the freight-carrying capacity of CSX trains. This will drive down overall prices for shipping freight, and will potentially make it cheaper to perform auto shipping by train. While this is great news for the average consumer, as well as retail businesses, it may potentially increase competition for Virginia auto transporters.