Federal Grant Pursuit

Federal Grant Pursuit
July 2, 2019
Transaction Advisory
July 2, 2019

Federal Grant Pursuit

Bluejay Role: Bluejay Advisors successfully partnered with the Central Maine & Quebec Railway, the Maine Northern Railway, the Eastern Maine Railway and MaineDOT to be winners of a USDOT TIGER grant. The $20 million grant will provide for the rehabilitation and betterment to the rail corridors over 384 miles of track allowing for speed increases of 15 miles per hour and the removal of numerous long-standing bottlenecks. This project invests in new rail, ties, surfacing and upgraded road crossings and signal systems and adds trackage, new rail and upgrade turnouts and interchange improvements.

Client Description: MaineDOT is the office of state government charged with the regulation and maintenance of roads and other public infrastructure in the state of Maine. The Central Maine & Quebec Railway is a subsidiary of Fortress Transportation and Infrastructure Investors. Nearly 600 miles long, the short line runs from the coast of Maine to east of Montreal in Quebec. The Maine Northern Railway Company Limited and the Eastern Maine Railway are U.S. and Canadian short line railroads owned by the New Brunswick Railway Company, a holding company that is part of "Irving Transportation Services", a division within the industrial conglomerate J.D. Irving Limited.