An old short line railroad in Texas is purchased and rebranded as Central Texas & Colorado River Railway LLC and began local service this week.
Formerly known as the Heart of Texas Railroad, it was purchased from Texas investors earlier in 2016. CTCRR is now one of the properties of OmniTRAX Inc and is the company's 20th short line railroad. The railroad is headquartered in Brady, Texas.
Central Texas & Colorado River Railway, LLC operates 68 miles of track running due west from Lometa, TX, where it interchanges with BNSF, to Brady, TX. Potential new customers include an aggregate quarry, a cement factory and frac sand producers. “The Central Texas & Colorado River Railway is a great opportunity for OmniTRAX with at least three good long-term mineral prospects on the line. As a distressed asset that can be turned around with our expertise, it’s right in our sweet spot,” said Kevin Shuba, CEO of OmniTRAX. “We want to thank the sellers for their efforts in starting to implement a restructuring plan and making the closing of the transaction as smooth as possible.”
OmniTRAX, Inc. is one of the largest privately held transportation services companies in North America and an affiliate of The Broe Group.
The Heart of Texas Railroad ran into financial difficulties after a 23 span bridge over the Colorado River just outside of San Saba burned down in May 2013. The fire was caught on video: http://keyj.com/watch-dramatic-video-of-railroad-bridge-near-san-saba-texas-burn-and-collapse-video/