Canadian National Railway Co. (CN) recently announced its $3.2 billion (U.S. $2.6 billion) capital program will invest in infrastructure maintenance to meet growing freight demand and enhance safety and efficiency.
“CN’s growth continues to outpace the economy,” Luc Jobin, CN president and chief executive officer, said. “With our 2018 capital program and ongoing hiring, we are focused on meeting the needs of our customers. We have confidence in the North American economy and in our ability to help our customers grow their businesses.”
This will be the third year CN is investing in track and railway infrastructure. A total of $1.6 billion (U.S. $1.3 billion) will be used to replace more than 600 miles of rail and 2.1 million rail ties, as well as do bridge work and general track maintenance.
An additional $800 million (U.S. $647 million) will be spent on initiatives to increase capacity and enable growth and $400 million (U.S. $323.6 million) will be spent on equipment, including high horsepower locomotives.
CN has ordered 200 new GE locomotives, 60 of which will be delivered this year.
Finally, $400 million (U.S. $323.6 million) will be used to implement Positive Train Control along CN’s 3,500 route miles in its U.S. network.