HOUSTON — CMC Railroad, which provides rail service for Gulf Inland Logistics Park near Houston, plans expansion of its operations at the industrial park after closing an $87.9 million credit agreement with the Bank of Texas, the railroad said today (Aug. 18).
The agreement refinances CMC’s existing debt and will allow the addition of 1,100 railcar storage spaces, bringing the total to 2,000, along with investments in track infrastructure, transloading facilities, and other improvements.
“This strategic financing comes at a time when it is critical to meaningfully expand infrastructure and operations at Gulf Inland Logistics Park,” Marcus Goering, principal at CMC Railroad, said in a press release. “With Phase One of development complete, demand continues to grow for Phase Two and the continued advancement of Gulf Inland and CMC Railroad facilities.”…