LOS ANGELES -- The ports and cities of Los Angeles and Long Beach, Calif., announced yesterday that they have reached an agreement with Southern Pacific Transportation Co. to purchase a key rail right-of-way for the $1.8 billion Alameda Corridor Transportation Project.

Attempts to finalize the purchase were on and off for months, as port officials and Southern Pacific haggled over numerous details.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.