NORTH AMERICA: On May 6 CN announced plans to invest C$2·7bn during 2015. ‘With the work season now well underway, CN is embarking on a large number of maintenance and construction projects to ensure we continue to run a safe railway and play a continuing role as a true backbone of the economy’, said President & CEO Claude Mongeau.
CN plans to spend C$1·4bn on infrastructure, including track renewals and bridge improvements on its 33 000 route-km network in Canada and the USA. This includes C$100m for a previously-announced C$500m programme to invest in feeder lines which are experiencing rising traffic volumes.
Safety investments will include additional fault detection systems such as wayside inspection technology, hot wheel and impact load detectors, broken rails detection and new geometry testing and inspection technology.
CN is to spend C$800m on growth and productivity initiatives including yard improvements, distribution centres and IT.
Capital expenditure of C$500m aims to tap growth opportunities and improve the quality of the fleet, with the delivery of 90 new high-horsepower locomotives and investment in new wagons and refurbishment of existing vehicles.
‘CN is investing in a safe, efficient railway that is building on a strong foundation as well as building for the future in this the 20th anniversary year of our initial public offering of shares’, said Mongeau. ‘We are proud of our achievements and our record of investing significant capital in the business to ensure a sustainable enterprise for many years to come.’
