BOCA RATON, Fla.--(BUSINESS WIRE)--March 5, 1998--RailAmerica, Inc. (Nasdaq/NNM:RAIL - news) announced
today that its subsidiary, RailAmerica de Chile, S.A., operator of the Chilean railroad Empresa de Transporte Ferroviario S.A.
(''Ferronor''), was notified by SQM Nitratos S.A. that it had been awarded a 10-year transportation contract that the
Company estimates will yield aggregate revenues of approximately $68 million.
The contract calls for the movement of approximately 500,000 tons annually of potassium chloride and potassium sulfite from
the Minsal Salt Flats mine in northern Chile to Coya Sur, a distance of 128 miles, with further service 54 miles to Tocopilla, in
conjunction with the Tocopilla railroad. Movements are scheduled to commence this July. Ferronor, a 1,400-mile railroad
serving northern Chile, is majority-owned (55%) and operated by RailAmerica, with minority Chilean partner Andres Pirazzoli
y Cia., Ltda. |
