Alaska Railroad sees hope in marijuana industry and elsewhere as profits drop

Alaska Railroad sees hope in marijuana industry and elsewhere as profits drop

Hit with a sharp plunge in profits, the Alaska Railroad is pinning its financial hopes on new opportunities that include increased ridership, shipments of liquefied natural gas, and lease revenue from marijuana retail stores.

The state agency’s income is down dramatically from just a couple of years ago, thanks largely to crashing coal markets from weak demand and reduced petroleum shipments stemming from the closure of the North Pole refinery in 2014.

The headwinds facing coal this year created an “ugly inferno” that forced the railroad to put the Seward Coal Loading Facility in “cold storage” in September, said Bill O’Leary, chief executive of the Alaska Railroad, speaking Thursday to the Resource Development Council.

Alaska Railroad sees hope in marijuana industry and elsewhere as profits drop






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