A subsidiary of Denver-based Hallador Energy Co. (Nasdaq: HNRG) has announced plans to construct a new truck-to-rail coal loading facility near Princeton. Sunrise Coal LLC in Terre Haute says the facility, known as the Princeton Loop, is expected to be complete in the spring of 2018.
The facility is the result of a side track agreement between Sunrise Coal and Norfolk and Southern Railway. Sunrise Coal did not respond to an Inside INdiana Business request for financial details related to the project.
In a news release, the company says the facility will be located on State Road 64 about six miles west of Princeton. It will have the ability to unload trucks, blend coals, load 135 car unit trains in four hours, and store more than four million tons of coal.
Hallador Chief Executive Officer Brent Bilsland says the facility will allow Sunrise Coal to access "substantial new markets and better serve our customers."