The revenues of the Company are reinvested in improvements to the properties that NCRR owns based upon cost/benefit analyses and engineering assessments. The amount available for reinvestment amounts to about $11 million annually‹substantial but not enough to pay for all of the improvements that are needed to build capacity on the NCRR line. The Policy Planning Committee of the Board of Directors of the company recommends capital improvements that are deemed to be the most beneficial relative to their cost and the resources available.

In 2001, after completing $10 million of track improvements to the NCRR line between Goldsboro and the Morehead City Port, $19 million of NCRR income (in the form of common stock dividends to the State of North Carolina) were diverted to non-railroad uses by the North Carolina legislature. Despite this resource diversion, engineering design of the two projects below continued, and contracts are now committed with Norfolk Southern to allow construction to go forward in 2002 and 2003.

Replace the Neuse River Bridge
Upgrade Rail Condition
Kinston
Having carried locomotives and rail traffic for nearly 100 years, this aging bridge has survived hurricanes and floods. It did not survive Hurricane Floyd undamaged. A large crack has appeared on the east abutment. The steel trusses are aging and it cannot support today's heavier, larger railcars. Track in this area also needs to be upgraded, as the rail is more than 80 years old. Plans have been completed and construction is scheduled for the third quarter of 2002. The project should be complete in early 2004.

Replace Highway 54 Railroad Bridge
Add 1.5 Miles of Siding
Research Triangle Park Area
A modern bridge will alleviate the traffic congestion as well as eliminate unsafe clearances caused by this aging, single-track structure. The new double-track bridge will allow both freight and intercity passenger trains to run on time in the corridor. The additional siding is necessary for trains to pass one another safely and manage the increased right of way use that regional rail transit will need. The new bridge designs have been finalized and completion will take approximately one and a half years once construction begins. The safety improvements, greater Highway 54 traffic flow and the increasing of rail corridor capacity in eastern Durham County make this project a good example of how NCRR infrastructure can be improved to handle while improving freight and passenger travel.

   

NCRR is committed to managing the rail corridor and associated properties in a way that encourages industrial recruitment while maintaining and improving the right of way of both freight and passenger trains. The North Carolina Department of Transportation works with communities across the state to improve crossing safety, expand and enhance passenger train service and preserve endangered rail corridors for future use. Working together, the NCRR and NCDOT have adopted other improvements to increase the efficiency, capacity and safety of the NCRR rail line.

Centralized Traffic Control Systems (CTC), Communications and Road Crossing Circuits
Cary to Greensboro – 2002-3

Additional Curve Improvements
Raleigh-Charlotte – 2002-3

Upgrades and Siding Extensions
McLeansville, Mebane, Raleigh-Selma and West Durham – 2002-3

Upgrade Connections
Greensboro and Durham – 2003-4

Centralized Traffic Control (CTC)
Between Garner and Goldsboro– 2004-5

Double Track:
• High Point-Greensboro Segment – 2003-4
• Raleigh-Selma Segment - 2004
• North Charlotte to Concord - 2005
• Thomasville to Lexington - 2005