CN yesterday announced details of its 2016 capital spending plan that's projected to total about $2.9 billion (in Canadian dollars).
The railroad plans to spend about $1.5 billion on track infrastructure, including the replacement of rail, ties and other track materials, improvements to bridges and upgrades to targeted branch lines.
The Class I also expects to spend $600 million on rolling stock, including the delivery of 90 new high-horsepower locomotives in 2016.
Meanwhile, CN plans to invest $400 million in "a range of other key initiatives," including $400 million on the implementation of positive train control technology on portions of its U.S. rail network.
"CN is investing for the long term and we are again planning a significant capital program in 2016 to support a safe and fluid railway network, and to raise the bar on efficiency and customer service," CN President and Chief Executive Officer Claude Mongeau said in a press release. "Despite the current uncertain economic environment, it is a good time to harden our infrastructure because we can do the work faster and at a better price."
To learn about other Class Is' 2016 capex plans, read this news article in the February issue of Progressive Railroading.
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