HORRY COUNTY, SC - The Carolina Southern Railroad may be for sale, if it's not abandoned.
A settlement agreement was reached between the company, also known as CALA, and the various governmental and private businesses in three counties. The nearly 70-mile track runs through parts of Horry, Marion and Columbus, NC counties.
The agreement sets the stage for the next phase in the railroad's future, after it was idled from 2011 until 2013.
If abandoned, CALA can sell the assets, the rail, the ties, and the real estate for whatever they can get for it, Doug Wendel explained. Wendel serves on the Interstate Railway Committee.
If a purchase were to take place, a separate entity, possibly an LLC, would be formed to purchase the company.
The Interstate Rail Road Committee says an appraisal is being conducted on the business, and that appraisal should be given to the committee in the beginning of August.
Wendel said he hopes a meeting will take place in the beginning of September.
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