Projects proposed for RRIF Financing

Don Cleland

Projects to be funded through RRIF

• Refinance of existing capital debt• Key bridge projects• Rehab of Ashland Line to bring 15 miles up

to FRA Class 2 track• Certified railroad scale• Expansion of yard switching capacity• Construct a locomotive servicing shop

facility• Restore to service one GP-38 locomotive• Lay new 115# rail on selected curves

Refinance of existing capital debt

• Take advantage of longer terms and lower interest rates

• Better manage cash flow to address necessary maintenance and enhance flexibility to respond to growth opportunities

Key Bridge Projects

• Replace timber structure with steel and concrete at Mansfield, OH.

Track Rehab of Ashland Line

• Timber and surface 15 miles of track

Certified Railroad Scale

• Rail scale to address customer demand

Expansion of Yard

• Increase switching capacity

Construct Locomotive Servicing Facility

• Most servicing and repair work is currently performed without protection from the elements

• Enhance safety, productivity, and better manage environmental regulation compliance

Restore a locomotive to service

• Rebuild prime mover and traction motors

Lay new 115# rail

• 3.5 miles of curves where traffic is heaviest

ORDC – Railroad partnership

• Ashland Railway considered applying for RRIF assistance for a number of years

• Access to private funding is not expected to meet our needs

• ORDC guidance and support is providing important assistance as we go through the RRIF process

• Ashland Railway will continue to be a strong partner in state and local development of new opportunities for job creation in the communities we serve