JUNEAU, Alaska (AP) – One of the world’s largest cruise companies plans to buy a railroad used for summer tourists between the southeast Alaska community of Skagway and Carcross, in Canada’s Yukon.

Carnival Corporation announced Thursday that it plans to buy from Ontario-based TWC Enterprises Ltd. the White Pass and Yukon Route rail and port operations.

TWC Enterprises said the deal is worth $290 million, with debt, taxes and other liabilities to be deducted.

The deal is expected to close July 31. It includes 67.5 miles of railway, a port and a gift shop and other real estate in Skagway.

Carnival also signed an agreement with Alaska-based Survey Point Holdings Inc., which would manage the route’s terminal operations.

Carnival envisions additional investments, including expansion of docking facilities to accommodate newer cruise ships.

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