Deals Counterparts

Ontario acquires track from CN for new passenger service

Acquisition Transport announced Canada Mar 17, 2026
USD138M
Deal Value
development
Stage
Northlander passenger service
Project

The Government of Ontario acquired the 205km Washago - North Bay section of the 740km Toronto - Timmins/Cochrane railway from Canadian National (CN) for $C 138m. This is a key element in Ontario’s project to restore the Northlander passenger service to northeastern Ontario. The acquisition will also benefit freight traffic by eliminating the need to switch operation between CN and Ontario Northland. The first of three Venture diesel-electric trains being supplied by Siemens for the revived Northlander arrived in January for testing and commissioning, with the other two sets due to follow later this year. Each train includes a power car and three coaches. In February, Ontario Northland announced that $C 100m of infrastructure improvements were nearing completion. They include rail welding, curve adjustments and upgrading level crossings to improve ride quality, reduce journey times and improve safety. A 1km bypass of the busy North Bay yard was completed in September 2025 at a cost of $C 5.7m which will reduce the journey time by 15 minutes. Last month Ontario Northland awarded a contract to renovate North Bay station, while work underway to modernise Cochrane and Englehart stations is expected to be completed shortly. A new station is under construction at Timmins-Porcupine. A date has yet to be announced for the introduction of the new service, which is expected to run overnight between Toronto and Timmins on four to seven days per week depending on the season. There will be a connecting service to Cochrane.

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Source Intelligence

KEY DETAILS

The acquisition will also benefit freight traffic by eliminating the need to switch operation between CN and Ontario Northland.

Deal Size
The government of the Canadian province of Ontario has acquired the 205km Washago - North Bay section of the 740km Toronto - Timmins/Cochrane railway from Canadian National (CN) for $C 138m ($US 100.7m).
Location
The government of the Canadian province of Ontario has acquired the 205km Washago - North Bay section of the 740km Toronto - Timmins/Cochrane railway
PARTIES MENTIONED IN SOURCE
G
Government of Ontario buyer

"The government of the Canadian province of Ontario has acquired the 205km Washago - North Bay section of the 740km Toronto - Timmins/Cochrane railway from Canadian National (CN)"

C
Canadian National (CN) seller

"The government of the Canadian province of Ontario has acquired the 205km Washago - North Bay section of the 740km Toronto - Timmins/Cochrane railway from Canadian National (CN)"

S
Siemens supplier

"The first of three Venture diesel-electric trains being supplied by Siemens for the revived Northlander arrived in January for testing and commissioning"

high quality Enriched Mar 17, 2026

Timeline

Announced
Mar 17, 2026
Signed
Closed

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