OREANDA-NEWS. Kentucky-based RJ Corman Railroad said this week it has reached an agreement to finalize the $13.9mn acquisition of Carolina Southern Railroad by 1 August.

The 80-mile line extending from Mullins, South Carolina, to Whiteville, North Carolina, and then to Conway, South Carolina, has been out of service since 2011. In Conway it connects to a line owned by Horry County, South Carolina, that extends to Myrtle Beach, South Carolina.

Corman said it will invest millions of dollars to overhaul the line, a project that is expected to take about four months. The company said the overhaul will ease industrial transportation costs and traffic congestion.

"Our first step will be to more fully assess the rehabilitation that is needed. Our railroad construction team will then efficiently bring it up to our high standards," Corman Railroad Group chief executive Craig King said. "We also will meet with area business and industry leaders and economic development representatives to identify ways our railroad can expand their markets and save costs."

A committee representing Horry County and Columbus County, North Carolina, assigned their collective rights and interests to a third party, which chose Corman as the new owner/operator.