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CP announces 2011 capital investment plan

20 Jan 2011

CANADA: Canadian Pacific Railway is to invest C$950m to C$1·05bn under its 2011 capital plan announced on January 12.

The focus is on capacity to sustain efficiencies gained through its 'long train' strategy and depot and yard consolidations; projects to improve reliability and customer service; growth and market-based opportunities, including intermodal and energy projects; and 'digital railway' technology to improve efficiency, service and safety.

C$680m will be spent on track renewals, C$200m on volume growth, productivity initiatives and network enhancement; C$80m on IT, and C$40m to address regulatory requirements, principally train control.

'With strong demand projected in many of our commodity-based businesses, this capital plan will enable us to meet our customers' needs and continue to lower our operating ratio to create a stronger franchise for the future', said Chief Financial Officer Kathryn McQuade.