Question for you Canadians...

in Lanois' Under the Stormy Sky, the verse goes

I hear the T.H.&B.
the diesel turning
Calling you and me
to the city of steel,
smokestack-spinning wheel
come with me Bebette,oui
under the stormy sky

First, what is the T.H.&B? What is the city of steel? And is there such a place as Sugar Town, as the song mentions?