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6/23/2022
CN yesterday and today announced it will spend CA$970 million this year on capital expenditure projects for its rail network in the provinces of Alberta, Manitoba, Nova Scotia and Ontario.
The funds will go toward technology, capacity, rolling stock and company-wide decarbonization efforts, as well as network improvements across all four provinces, CN officials said in a press release. The investments will power sustainable growth and ensure the continued safe movement of goods across Canada, they said.
CN plans to spend CA$430 million in Ontario, CA$365 million in Alberta, CA$160 million in Manitoba and CA$15 million in Nova Scotia. The investments also include a maintenance program for each province.
Combined, the work calls for replacing 102 miles of track, installing 291,000 ties, rebuilding 162 grade-crossing surfaces and completing maintenance work on various track infrastructure.
Earlier this week, CN announced plans to invest CA$390 million in British Columbia and CA$335 million in Quebec.
"We continue to make significant investments in our network, technology and capacity," said Sean Finn, CN executive vice president of corporate services and chief legal officer.