USA: Union Pacific Corp has announced a 2015 capital programme valued at $4·3bn, which it says is an increase of $200m on 2014.

UP said the programme would be ‘driven primarily by equipment acquisitions and infrastructure investments’. Spending on Positive Train Control is expected to total $450m, up from $385m in 2014.

‘As we generate strong cash flow, we are returning more cash to our shareholders while also making significant capital investments that add value for our customers’, said Chief Financial Officer Rob Knight. ‘We invest today for the opportunity to drive further returns for our shareholders in the future.’