Portland & Western Railroad, Inc. (PNWR), a Class III railroad company, has filed a notice of exemption with the Surface Transportation Board to continue leasing and operating around 47.20 miles of rail lines in Oregon from the Union Pacific Railroad Company (UP). The lease began with UP's predecessor in 1995 and has been renewed to extend until 2025, with further commercial changes. The agreement includes terms about interchanging with other carriers, and PNWR has requested a waiver of the 60-day labor notice requirement due to projected revenues exceeding $5 million annually. Additionally, PNWR states that the lease is excluded from environmental and historical review requirements.
Simple Explanation
Portland & Western Railroad is asking for permission to keep using train tracks it rents from Union Pacific, and they want to skip a rule because they're making a lot of money. Some details about their agreement are kept secret, so people can't see everything that's going on.