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Union Pacific Railroad's board yesterday approved a 2017 capital plan of $3.1 billion, down $400 million from last year's plan.The 2017 plan includes $300 million for the railroad's ongoing implementation of positive train control, UP officials said in a press release."The 2017 capital plan reflects our continued commitment to safety, productivity and future profitable growth," said UP Chief Financial Officer Rob Knight in a press release. "Our capital investments serve a critical role in adding value for our customers and shareholders."Most Class Is expect to spend less on capital expenditures, Progressive Railroading reported last week. However, Canadian Pacific has announced a 6 percent increase in its 2017 capex budget, while Norfolk Southern Corp. expects to spend about the same this year. Meanwhile, the Association of American Railroads (AAR) announced this week that the freight railroad industry will spend about $22 billion on capex in 2017. The railroads' investments will include upgraded track and locomotives, as well as advanced technology designed to meet demand and improve railroad safety, according to an AAR press release.
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