Watch Now


CP Railway reduces 2006 capital budget

CP Railway reduces 2006 capital budget

   Canadian Pacific Railway has reduced its capital spending budget for 2006 to between C$810 million ($697 million) to C$825 million ($710 million) from about $920 million ($792 million) in 2005.

   The breakdown of CPR’s 2006 investments is:

   *$570 million ($491 million) to maintain and upgrade rail, ballast, crossties and automated signal systems, and to extend and build sidings.

   *$160 million ($138 million) for locomotive maintenance, overhaul and acquisitions.

   *$50 million ($43 million) for information technology.

   *$25 million ($22 million) to expand capacity in intermodal terminals and to maintain other service facilities.

   CPR said the remainder of the 2006 capital program will “support targeted growth opportunities in higher-yield markets and improved efficiency and productivity.”