Canadian National Railway is planning to invest CAN$2.1 billion ($1.89 billion) in infrastructure improvements this year, a slight rise over the CAN$2 billion it spent last year, the railroad announced last week.
According to the railroad, CAN$1.2 billion will be reserved for track infrastructure with an eye toward increasing safety and productivity. CN is planning to spend around CAN$300 million on equipment — the company will buy 45 new locomotives this year, it said — and it will spend CAN$600 million to build new facilities and expand existing distribution infrastructure.
“Investments in our network and distribution capability, the acquisition of new locomotives and equipment, and the enhancement of information systems and technology will help support our agenda of operational and service excellence,” CN’s president and chief executive officer, Claude Mongeau, said in a statement. “They will help us achieve our goal of becoming a true supply-chain enabler and help our customers compete better in their markets."