JOC Staff | Mar 05, 2013 4:43PM EST
Edward R. Hamberger, president and CEO of the Association of American Railroads, today told the House Transportation and Infrastructure Committee’s subcommittee on railroads, pipelines and hazardous materials that the nation’s freight railroads plan to spend a record $24.5 billion in private funding on the network in 2013.
The railroads will invest the money in safety technology, new intermodal terminals and new equipment, Hamberger said.
In 2012, the industry invested $23 billion, the previous record.
