JOC Staff | Feb 05, 2013 2:40PM EST
Canadian National Railway today announced a 2013 plan to invest about C$1.9 billion (about US$1.9 billion) to upgrade and maintain its railway network and enhance and expand the business.
The company will invest in infrastructure, acquire new locomotives and equipment and improve information technology systems, said Claude Mongeau, CN’s president and CEO, in a written statement.
More than $1.0 billion will be spent on track infrastructure, including the replacement of rail, ties and other track materials and bridge work, as well as capacity and productivity improvements. The company also plans to spend $702.2 million on business expansion and $200.6 million on new locomotives, intermodal equipment and vehicles, as well as locomotive and car refurbishments.
