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Canadian National Railway - CN
Rail News: Canadian National Railway - CN
6/17/2011
Rail News: Canadian National Railway - CN
CN's Mongeau: Four short lines, infrastructure investments are paying off in carloads
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By year’s end, CN expects to have spent more than $400 million to buy and rehabilitate four short lines serving northern Alberta, President and Chief Executive Officer Claude Mongeau said in a prepared statement.
The acquisition of the Mackenzie Northern Railway, Lakeland & Waterways Railway, Savage Alberta Railway Inc. and Athabasca Northern Railway in 2006 and 2007, as well as subsequent infrastructure improvements, have helped solidify CN’s freight franchise in the region, generating key volumes of coal, sulphur, petroleum coke, steel pipe, grain, wood pulp, lumber and diesel, he said.
Between 2006 and 2010, CN spent more than $260 million to install new rail, ties, ballast and other track materials, and upgrade bridges, sidings and communication technology. The Class I expects to spend about $45 million this year on more infrastructure work. The railroad also spent about $10 million to establish a petroleum coke transload operation at Fort McMurray, the “logistics gateway” to Alberta's oil sands production region, according to CN.
"Reliable, consistent rail service is essential to current and future oil sands and resource developments, and our infrastructure investments represent a clear and meaningful commitment to help foster that growth with quality rail transportation for our customers,” said Mongeau.
The acquisition of the Mackenzie Northern Railway, Lakeland & Waterways Railway, Savage Alberta Railway Inc. and Athabasca Northern Railway in 2006 and 2007, as well as subsequent infrastructure improvements, have helped solidify CN’s freight franchise in the region, generating key volumes of coal, sulphur, petroleum coke, steel pipe, grain, wood pulp, lumber and diesel, he said.
Between 2006 and 2010, CN spent more than $260 million to install new rail, ties, ballast and other track materials, and upgrade bridges, sidings and communication technology. The Class I expects to spend about $45 million this year on more infrastructure work. The railroad also spent about $10 million to establish a petroleum coke transload operation at Fort McMurray, the “logistics gateway” to Alberta's oil sands production region, according to CN.
"Reliable, consistent rail service is essential to current and future oil sands and resource developments, and our infrastructure investments represent a clear and meaningful commitment to help foster that growth with quality rail transportation for our customers,” said Mongeau.
