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CN lays out plan for capital investments in 4 provinces

CN lays out plan for capital investments in 4 provinces

A photograph of a CN train passing through a snow-filled forest.A photograph of a CN train passing through a snow-filled forest.

Canadian railway CN (NYSE: CNI) so far has announced CA$95 million in 2021 capital investment projects in Alberta, Ontario, Manitoba and New Brunswick. 

CA$95 million is worth about $77 million U.S., and 1 Canadian dollar equals about 81 U.S. cents.

The railway has an overall budget of CA$3 billion for capital improvements in 2021. The improvements aim to enhance safety and network fluidity via investments in technology, capacity and infrastructure maintenance.

About CA$445 million will go toward projects in Alberta. These projects include replacing 64 miles of rail; installing approximately 182,000 railroad ties; rebuilding 38 road crossing surfaces; and conducting maintenance work on bridges, culverts, signal systems and other track infrastructure.

CN operates 2,521 route miles in Alberta, and it has spent more than CA$1.3 billion in capital investments in the province in the last five years.

In Ontario, CN plans to invest CA$350 million to replace 67 miles of rail; install approximately 176,000 railroad ties; rebuild 85 road crossing surfaces; and conduct maintenance work.

CN has spent more than CA$1.4 billion in Ontario over the last five years, and it operates 2,546 route miles in the province.

In Manitoba, CN will spend CA$95 million on a number of projects, including installing approximately 118,000 railroad ties; rebuilding seven road crossing surfaces; and conducting maintenance work.

CN operates 864 route miles in Manitoba, and it has spent more than CA$610 million in capital investments there.

And in New Brunswick, CN expects to invest CA$15 million to replace five miles of rail; install approximately 7,000 new railroad ties; rebuild 19 road crossing surfaces; and conduct maintenance work.

CN has spent CA$135 million in New Brunswick in the last five years, and it operates 569 route miles in the province.

Each of CN’s announcements for the four provinces noted how the railway is seeking to acquire Kansas City Southern (NYSE: KSU) and create a transcontinental railroad with a network that would span from Canada to Mexico.

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Click here for more FreightWaves articles by Joanna Marsh.


Źródło

21 June 2021, 22:30