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New Maine-Quebec rail owner plans to ship oil
New owner of rail line involved in deadly Quebec explosion plans to ship oil again
By DAVID SHARP
Associated Press
2014-05-16 11:01 PM

PORTLAND, Maine (AP) -- The new owner of the railroad responsible for a fiery oil train derailment that claimed 47 lives in Quebec says he plans to restart oil shipments after making safety improvements.

John Giles, CEO of the Central Maine and Quebec Railway, told The Associated Press on Friday that the company must first make track improvements.

He hopes to have an agreement with Lac Megantic, Quebec, within 10 days to resume shipments of non-hazardous goods, restoring the vital link between rail to the east and west. The company's timetable calls for resuming oil shipments in 18 months.

Giles' company closed on the sale of U.S. assets of the bankrupt Montreal, Maine and Atlantic Railway on Thursday. The firm is expected to close of the Canadian assets in a couple of weeks.

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