Canadian National Railway Targets C$2.5 Bln In 2017 Capital Investments

(RTTNews) - Canadian National Railway Co (CNR.TO, CNI) announced its planned C$2.5 billion capital program in 2017 focused on hardening its core infrastructure.

CN plans to invest approximately C$1.6 billion, consistent with last year's investment, on track infrastructure to maintain a safe and efficient network. The planned work includes the replacement of 2.2 million rail ties and installation of more than 600 miles of new rail, plus work on bridges, branch line upgrades and other general track maintenance.

The company plans to invest approximately C$400 million in 2017 to advance the implementation of PTC, the safety technology mandated by the United States Congress, along parts of its U.S. network. CN will install the hardware on approximately 3,500 route-miles and plans to invest a total of US$1.2 billion on the entire project by 2020. 

Approximately C$500 million is expected to be spent on equipment, expansion projects and information technology initiatives to serve growing business, improve service for customers and advance safety.