(RTTNews) - Canadian Pacific Railway Limited (CP, CP.TO) said it welcomed the announcement by Kansas City Southern or "KCS" and its affiliate Kansas City Southern de México, S.A. de C.V. or "KCSM" of an agreement extending the concession exclusivity rights granted to KCSM for an additional 10 years.
KCSM's exclusivity rights will now expire in 2037.
KCSM reached an agreement with the Mexican Ministry of Infrastructure, Communications and Transportation to fund a new investment in the Celaya-NBA Line Railway Bypass and other infrastructure.
In December 14, 2021, CP completed its acquisition of KCS.
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