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Indiaexportnews.com

CN to spend US$1.9 billion in capital improvement to upgrade network

  12.02.2013    

The Canadian National Railway (CN) will spend C$1.9 billion (US$1.9 billion) in 2013, slightly more than last year's capital investment of C$1.8 billion, to maintain and upgrade its railway network, grow the business efficiently, and improve customer service, the Shipping Gazette informs.
"CN is committed to operating a safe and sustainable railway, making continued improvements in service and seizing traffic opportunities to grow at low incremental cost," said president and CEO Claude Mongeau.
"Infrastructure investments, the acquisition of new locomotives and equipment and the enhancement of information technology systems will help support our agenda of operational and service excellence. They will also make our customers more competitive in domestic and global markets."
More than C$1 billion will be spent on track to continue operating a safe railway and to improve the productivity and fluidity of the network. This investment will include the replacement of rail, ties and other track materials, and bridge work, as well as capacity and productivity improvements.
The projects include the continuing extended siding programme in northern British Columbia, Alberta, and northern Ontario and the double-track portions of its mainline in Saskatchewan and add new signals on the Alberta main line to expedite train movements.
The Montreal-based company also expects to spend approximately C$700 million to grow with its customers across a range of markets as they expand their business, including on investments.
In addition, it will target approximately C$200 million for the acquisition of locomotives, intermodal equipment and vehicles as well as locomotive and car refurbishments. The railway company expects to take delivery of 40 new and 37 second-hand high-horsepower locomotives over the next 24 months, after also acquiring 25 new and 123 second-hand high-horsepower locomotives in 2012.


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