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CN targeting record C$3.2 billion capital program in 2018
CN targeting record C$3.2 billion capital program in 2018 Canada NewsWire MONTRE...
About this update from Canadian National Railway Company
[{"type":"text","content":"\n\n\n\nCN targeting record C$3.2 billion capital program in 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nMONTREAL, Jan. 23, 2018\n\n\n\nInvestment up C$500 million compared to last year; plan includes new spending on capacity projects to add resiliency to network  \n\n\n\nMONTREAL, Jan. 23, 2018 /CNW/ - CN (TSX: CNR) (NYSE: CNI) today announced its planned C$3.2 billion capital program will focus on key capacity projects to meet growing freight demand and continued investment in infrastructure maintenance to enhance safety and efficiency. \n\n\"CN is investing more than ever before in the safety, efficiency and resiliency of our network,\" said Luc Jobin, CN president and chief executive officer. \"These record investments, a substantial portion of which will go to new capacity and growth projects, will improve our network fluidity, allowing us to deliver superior service to meet our customers' growing freight volumes.\" \n\nFor the third straight year, CN plans to invest approximately C$1.6 billion on track and railway infrastructure maintenance to support safe and efficient operations. The planned work includes the replacement of 2.1 million rail ties and more than 600 miles of rail, plus work on bridges and other general track maintenance. \n\nApproximately C$400 million is expected to be spent on equipment, including the acquisition of new high horsepower locomotives. A further C$800 million is targeted towards initiatives to increase capacity and enable growth, such as track infrastructure expansion, investments in yards and in intermodal terminals; and on information technology to improve safety performance, operational efficiency and customer service. \n\nMore specifically, major capacity and equipment investments include:\n\n\nSixty new GE locomotives, the first deliveries from a three-year order of 200 new units\nDouble track and siding extensions in the West Coast to Chicago corridors\nIntermodal equipment and infrastructure in Toronto, Memphis, Tenn., Joliet, Ill., and other terminals \n\nT...