FORSHORTLINES

co-operatives such as Battle River Railway in Forestburg, Alberta, short lines that are owned by a larger railway company such as Omnitrax or Regional Rail, and short lines that are owned by agricultural and industrial corporations.

Many different types of investors recognise that short line railways are productive and sustainable businesses and a core piece of Canadian supply chain infrastructure.

FT: Does the CPKC merger have any implications for your members?

Mackenzie: Depending on their geographic location, our members are 50:50 split between being served by Canadian National and by Canadian Pacific Kansas City, with CN towards the North and CPKC in the South. Much of the grain produced in southern Saskatchewan and Alberta will end up on CPKC in its voyage through the network.

If CPKC offers competitive rates and the quality of service options and performance that they predicted with the merger, that will have positive implications for CPKC-served customers moving freight from rural Canada into the US and Mexico - including traffic that