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Stock Market & Financial Investment News

News Breaks
February 19, 2014
10:03 EDTCNICanadian National targets C$2.1B in 2014 capital investments
CN announced is targeting to spend more than C$1.2B in 2014 on track infrastructure and to improve the safety, productivity and fluidity of the network. This investment will include the replacement of rail, ties and other track materials, bridge improvements, as well as various branch-line upgrades. This envelope will also include funds for strategic initiatives and additional improvements to track infrastructure in western and eastern Canada as well as in the United States. CN's equipment capital expenditures in 2014 are targeted to reach approximately C$300M. CN in 2013 took delivery of 44 new and 37 second-hand high-horsepower locomotives and in 2014, CN will acquire an additional 45 new high-horsepower locomotives. CN also expects to spend approximately C$600M in 2014 on facilities to grow the business, including transloading terminals, distribution centers and the completion of its Calgary Logistics Park project. In 2013, CN's capital investment program totalled approximately C$2.0B.
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