CANADA: CN has announced a C$2·1bn capital investment plan for 2014, slightly up on the C$2·0bn which it spent last year. The 2014 plan allocates:
- C$1·2bn for infrastructure on the 32 000 km network in Canada and the USA, including track renewals, bridge improvements and various branch line upgrades;
- C$300m for locomotives and rolling stock, including the acquisition of 45 more high-horsepower locomotives;
- C$600m for terminals, distribution centres, IT and completion of the Calgary Logistics Park;
- funding to enhancing flaw detection capabilities, and completion of training facilities in Winnipeg and Chicago.
'Investments in our network and distribution capability, the acquisition of new locomotives and equipment and the enhancement of information systems and technology will help support our agenda of operational and service excellence', said President & CEO Claude Mongeau. 'They will help us achieve our goal of becoming a true supply chain enabler and help our customers compete better in their markets. They will also position us to take advantage of business opportunities in intermodal, energy and other resource and manufacturing markets.'