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 (108.7 kilometers) 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.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.