Canadian Pacific to boost capex budget 6 percent in '07 (12/14/2006)
12/14/2023Next year, Canadian Pacific Railway plans to spend between $765 million and $775 million on capital programs, an increase of about 6 percent compared with projected 2006 capital expenditures of $730 million.
The 2007 budget calls for spending $540 million on rail, tie, ballast and signal system upgrades; siding extensions and construction; buildings and equipment; and land acquisition. CPR also is budgeting $130 million for locomotive acquisitions and overhauls, $52 million for information technology upgrades, and $35 million for automotive and intermodal terminal expansions and maintenance. In addition, the Class I expects to spend an undetermined amount to upgrade its freight-car fleet.
“CPR’s planned capital investments are targeted at further improving the fluidity of our network, while maintaining the reliability and safety of our infrastructure,” said CPR President and Chief Executive Officer Fred Green in a prepared statement.
Source: Progressive Railroading Daily News