Norfolk Southern Corporation (NSC) has announced the acquisition of Cincinnati Southern Railway (CSR) by the company's operating subsidiary Norfolk Southern Railway Company.

CSR is a 337-mile railroad that runs from Cincinnati, Ohio to Chattanooga, Tennessee, the USA, which is owned by the City of Cincinnati and operated by the Cincinnati, New Orleans and Texas Pacific Railway Company (CNOTP), a wholly owned subsidiary of Norfolk Southern Railway. The agreement will allow Norfolk Southern to own CSR in perpetuity and give the company ownership of approximately 9,500 ac. of land. CSR runs up to 30 trains a day, serving more than half of the US population. 

As a result of the deal, the City of Cincinnati, which owns CSR, will receive cash consideration of approximately US$1.62 billion. The proceeds are planned to be used to create an infrastructure fund, which will finance the rehabilitation, upgrading or replacement of existing infrastructure. The deal is expected to close in Q1 of 2024.