Yeah, I've heard that rumor. It seems to circulate about every two or more years. There are several problems that will have to be overcome in order for the rumor to become reality:
Problem #1: CSX lost some r/w east of Callahan for various reasons, including sell-offs and public highway improvements. Result: Additional land will need to be purchased in order to create a sufficient amount of r/w for a new trackbed.
Problem #2: This is the BIG problem! In their typical short-sighted decision-making style, the CSX head-shed types decided to ABANDON the remnant portion of the former Seaboard line north of Woodbine, GA., effectively severing the previous connection with the ex-ACL line between Waycross and Brunswick, GA. Apparently, CSX did not have any ideas about the possibility of the future usage of that portion of the line. At least they didn't quite "burn their bridges", as the old saying goes. Instead, they demolished them! Like the massive steel bridge across the Satilla River north of Woodbine! So, to reactivate this connector, CSX will have to engage in some serious bridge rebuiding in addition to regular r/w rehabilitation efforts!
Would you believe that trains to/from Fernandina Beach, FL and the St. Marys RR connection in Kingsland, GA are still handled out of Rice Yard in Waycross, GA!!!! These trains operate on the CSX mainline south of Waycross, GA, through the "Folkston Funnel" to a junction near CSX's Moncrief Yard in Jacksonville, hop over to the former SAL line in N. Jax, and use the former SAL line between Jacksonville and Kingsland, GA to reach Fernandina Beach and the St. Marys RR connection, and return to Waycross via the same roundabout route! Yes! that certainly contributes to CSX's congestion woes! But, that's what they wanted! Again, an old axiom fits rather well in this situation: "Be careful for what you ask for, because you just might get it"!
As an explanation, the primary reason that the trains operate out of Rice Yd. in Waycross, GA is because Rice Yd handles most of the car classifications to and from Florida, and would do it if the trains operated out of Moncrief Yd in Jax or Rice. At least it alleviates the congestion problems in Moncrief Yd.!
Keep 'em rolling!