Canadian National Railway to Invest $C 2.5 Billion in 2017
The Canadian National Railway (CN) plans to invest approximately $C 1.6 billion, of its $C 2.5 billion capital investment budget, on track infrastructure to maintain a safe and efficient network. The planned work includes the replacement of 2.2 million rail ties and installation of more than 600 miles of new rail, plus work on bridges, branch line upgrades and other general track maintenance.
The company plans to invest approximately $C 400 million in 2017 to advance the implementation of Positive Train Control (PTC), the safety technology mandated by the United States Congress, along parts of its U.S. network. CN will install the hardware on approximately 3,500 route-miles and plans to invest a total of $US 1.2 billion on the entire project by 2020.
Approximately $C 500 million is expected to be spent on equipment, expansion projects and information technology initiatives to serve growing business, improve service for customers and advance safety. This includes planned growth investments to capitalise on Canadian west coast port expansions and key customer projects, and safety technology investments such as wayside inspection systems and track testing vehicles.
Luc Jobin, CN’s president and chief executive officer, said:
“We once again are investing with a focus on advancing safety, service and productivity through infrastructure maintenance, strategic growth initiatives and new technology”
“We remain committed to investing in our business as we continue to advance our agenda of operational and service excellence.”
Original article © CN