TCI sees $2.2 bln potential CSX productivity gains

NEW YORK May 20 (Reuters) - British activist investor group The Children's Investment Fund said on Tuesday U.S. railroad CSX Corp (CSX.N) could achieve $2.2 billion in annual productivity gains within five years, much more than the $400 million the company said it can achieve.

TCI, which is trying to get five directors onto the board of CSX, said it, 3G Capital and the board nominees collectively own over $2 billion of CSX stock and have an additional $3 billion of exposure to CSX through swap contracts. (Reporting by Nick Zieminski, editing by Gerald E. McCormick)