RDC forms partnership with iCON Infrastructure

Posted on December 31, 2020May 19, 2021 by Bryan Pierce

Partnership positions Iowa Interstate Railroad as “A Platform for Growth”

For Immediate Release RDC forms partnership with iCON Infrastructure Partnership positions Iowa Interstate Railroad as “A Platform for Growth” Railroad Development Corporation (“RDC”) of Pittsburgh, PA, has today entered into a strategic partnership with iCON Infrastructure, pursuant to which iCON Infrastructure Partners V (“iCON V”) will become a 40% partner in Iowa Interstate Railroad (“IAIS”). RDC will remain the majority owner of IAIS and together with iCON V will continue to support its strong management team and dedicated workforce in providing best-in-class service to IAIS’ diverse customer base.

IAIS is a regional freight railroad operating in the agro-industrial heartland of the USA. Its main line runs between Chicago and Omaha, with a branch line to Peoria, connecting with each of North America’s seven Class I railroads, a number of short line railroads, and the Mississippi and Illinois river systems. Its customer base is diversified among agriculture, construction, and consumer products. Key products handled by IAIS include corn, soybeans, agricultural products such as ethanol and animal feed, construction stone, steel, sand and intermodal containers.

Recognized as a leader in safety and growth, IAIS’ location and independence provide competitive options for its customers and the railroad serves an important role in industrial development for its territory. IAIS was formed in 1984, with RDC acquiring a minority interest in 1991 and owning 100% since 2004.

Henry Posner III, Chairman of RDC and IAIS, commented: “RDC’s business model is based on partnerships, a model that originates from the business acumen of my father, Henry Posner Jr. In this case we are fortunate to have found a partner that shares our culture. Together we are well positioned to advance the interests of the customers and communities we serve, and the interests of our industry as part of one of the world’s great network businesses.

IAIS will now increasingly serve as a platform for growth. This can take many forms, ranging from partnerships with other railroad companies to industrial development and investment in infrastructure such as intermodal facilities and river ports.

We see in iCON a partner with a global reach and a focus on infrastructure, with resources that complement our own. We welcome iCON as a partner and appreciate this vote of confidence in our quest to earn the position of the most respected railway company in North America.”

Rory Hunter, Director at iCON Infrastructure, commented: “Over the years we have known RDC, we have been continually impressed with their commitment to driving growth at their investments, whilst requiring the highest safety standards and customer service levels. Through this partnership we are excited to support Joe, Henry and the broader team in achieving our shared objective of continuing the strong growth trajectory of IAIS.”

Joe Parsons, President and CEO of Iowa Interstate Railroad, commented: “All of us at IAIS are pleased with our new partnership with iCON Infrastructure and see this as a tremendous opportunity to further our mutual interests in safety and growth. When we combine the IAIS network and customer base with iCON’s resources and global experience, I am confident that we will achieve significant growth and be better positioned for future opportunities.”

Railroad Development Corporation (“RDC”) is a Pittsburgh-based railway investment and management company with interests in railways and related businesses in the Americas and Europe. Further information is available at: www.rrdc.com.

iCON Infrastructure LLP (“iCON Infrastructure” or “iCON”) is an independent investment firm focused on investments in core infrastructure businesses across North America and Europe. Investments owned by funds advised by iCON Infrastructure include interests in Mountaineer Gas Company and TruVista Communications in the US; Capstone Power and Vista Services in Canada; Verbrugge International and Combined Cargo Terminals in the Netherlands; Gruppo Spinelli, EGEA and Eco Eridania in Italy; Hannover Airport and USG in Germany; Nua Healthcare Services in Ireland; Arcadia Renovables in Spain; and Bristol Water, Gridlink, SELCHP, Choice Care Group and Green Recovery Projects in the UK. iCON Infrastructure is regulated by the Financial Conduct Authority. Further information is available at: www.iconinfrastructure.com.

Iowa Interstate Railroad (“IAIS”) is a Cedar Rapids based freight railway company operating in the Midwestern region of the USA between Chicago, Peoria and Omaha. Further information is available at: www.iaisrr.com.

Iowa Interstate Railroad, LTD opens the William J. Duggan Bridge for rail traffic

Posted on June 30, 2020May 19, 2021 by Bryan Pierce

Booneville, Iowa – The Iowa Interstate Railroad, LTD (IAIS) opened the new William J. Duggan Bridge in Booneville, IA to freight rail traffic on June 30, 2020. This new, state-of-the-art structure crosses the Raccoon River west of Des Moines, IA and replaces a 119-year-old through truss bridge. The Federal Railroad Administration (FRA) funded half of the project costs through a Consolidated Rail Infrastructure and Safety Improvements (CRISI) grant of $3.5 million. The project was completed in record-setting time and under budget.
“The William J. Duggan Bridge will ensure safe and efficient freight connections between IAIS customers and rail destinations across North America and around the world,” said IAIS President Joe Parsons. “Completion of this project is yet another step in our unending drive at IAIS to prioritize safety, resiliency, and reliability in everything we do.”
“This bridge is a fitting tribute to Bill Duggan’s ongoing lifetime of service to the industry in this country and around the world which continues to this day” said Henry Posner III, chairman of IAIS. “After the bankruptcy of our predecessor the Rock Island in 1980, the IAIS route was deemed unnecessary and nearly liquidated: in fact, parts of the railroad stood idle until 1984. Bill came to the Iowa Interstate from the Illinois Central in 1989, and was tasked with keeping the railroad running with very limited traffic and funding. The early years were tough, but we have evolved into today’s strong, stable, resilient route connecting Iowa and Illinois to the world because of the foundation-both physical and cultural- laid by Bill. It is especially appropriate that this bridge carry his name as our West End has historically been our lowest-density segment and was at one point a re-abandonment candidate.”
Bill Duggan served as IAIS’ VP-Engineering, then VP-Operations, from 1989 to 1999, and has since served as VP-Operations of IAIS’ parent Railroad Development Corp. (RDC), where his roles have included service as President of Ferrovias Guatemala and responsibility for passenger businesses in Germany.
IAIS, FRA, and US DOT successfully completed construction in under 17 months from the date of award. Fifty percent of funding for the William J. Duggan Bridge was awarded by FRA on February 8, 2019 with IAIS funding the remaining 50%. The William J. Duggan Bridge is 661′-6″ long and consists of eight 75′ steel beam spans set on nine cast-in-place concrete piers with two concrete bents supporting a pre-stressed concrete box beam. Unlike the antiquated predecessor structure, the William J. Duggan Bridge will support sustained 40-mph train speeds with modern 286,000-pound freight rail cars and no dimensional load limitations.
Project engineering was led by HDR, Inc. of Omaha, NE. Bridge general contractor was A.M. Cohron & Son, Inc. of Atlantic, IA. IAIS Chief Engineer Chad Lambi, PE and Assistant Chief Engineer Greg D. Mitchell, PE oversaw project construction for IAIS.

Valued Iowa Interstate Customers and Partners,

Posted on March 16, 2020March 16, 2020 by Bryan Pierce

March 16, 2020

Valued Iowa Interstate Customers and Partners,

As the uncertainty surrounding the COVID-19 pandemic continues, I want to let each of you know that Iowa Interstate Railroad is watching the situation closely and engaged in business continuity preparation and planning. As of this writing, we are open for business and have no plans to curtail operations. We are committed to the safety of our employees while continuing to provide our valuable services to the nation’s freight rail customers and partners.

Since we became aware of COVID-19 and its possible spread in the US, we have been following all guidance from the Centers for Disease Control and Prevention (CDC) as well as our local and state health officials. This guidance includes, but is not limited to, informing our employees of recommendations to prevent the spread of COVID-19, ensuring facilities have the necessary supplies to disinfect and clean shared workspaces, and bolstering our contingency plans for business continuity by gearing up for more remote office work should the need arise.

Again, Iowa Interstate understands the important role we serve to not only each of you, but to our nation in this time of uncertainty. Our goal is to continue safely providing these services in the face of this adversity and look forward to our continued partnership for many years under better circumstances. I wish you all stay healthy and safe!

Sincerely,

Joe B. Parsons

OLI receives renewed Posner Foundation funding

Posted on February 7, 2020May 19, 2021 by Bryan Pierce

Operation Lifesaver Inc. (OLI) has received renewed grant funding for its rail safety education efforts in 2020 from the Posner Foundation of Pittsburgh, the rail safety group announced earlier this week.
The grant will continue and expand the support of rail safety projects and initiatives that the Posner Foundation helped to fund in 2019.
“The 2020 grant will allow us to expand our work at the national level and support our state programs across the country,” OLI Executive Director Rachel Maleh said in a press release, which did not mention the 2020 grant’s dollar amount.
Specifically, the 2020 funds will support the expanded distribution of an public service announcement (PSA) campaign aimed at reducing near-miss incidents with pedestrians near railroad tracks; supplement funding for state programs; and create a new discretionary fund to assist state programs with purchasing educational and promotional materials for their outreach efforts.
In 2019, the Posner Foundation donated $100,000 to OLI. The funds helped support the creation of media-related resources and distribution of a PSA about emergency notification system signs, as well as supplemented funding for state programs and provided support for national volunteer efforts.