Boatright Cos. is finalizing a deal to build a new railway crossties plant in Chilton County by next year.

The Birmingham-based railroad maintenance company is eyeing a site in Chilton County Industrial Park, between Clanton and Thorsby, for its newest plant, the company confirmed Thursday. It would mean a $40 million investment on 70 acres.

The 20-year-old Boatright Cos., led by President R. Shane Boatright, expanded its railway crossties business when it purchased Seaman Timber in Montevallo in 2008.

In April of this year, the company announced it would invest $25 million to build a second crosstie plant in Carbon Hill in Walker County, creating nearly 40 jobs.

“Chilton County did an excellent job in getting us to visit their industrial site,” said Boatright in a statement. “The deal has not been finalized, but we are guardedly optimistic we will be producing railroad ties within a year in Chilton County.”