CANADA: Plans to invest between C$1·1bn and C$1·2bn in renewal, enhancement and expansion projects during 2012 were announced by Canadian Pacific Railway on January 17.
CP's 2012 Capital Plan focuses on strategic and targeted investments to improve service and increase network capacity, as well as funding projects offering a rapid return on investment.
CP has allocated C$800m to the replacement or renewal of existing assets, C$275m for capacity expansion, business development and productivity initiatives, and C$50m for government-mandated capital projects, principally train control.
'We are executing our accelerated multi-year investment plan, to further improve service reliability, asset velocity and operational efficiency, while expanding capacity to safely and efficiently support higher volumes', said President & CEO Fred Green. 'We are confident that the investments we are making under our 2012 Capital Plan will allow us to achieve a low 70s operating ratio in the next three years.'
