Canadian railway CN has announced another $355 million in capital investments in two provinces and two U.S. states, bringing the total to $1.67 billion for 2022.
In 2021, CN (NYSE: CNI) dedicated CA$2.9 billion (US$2.25 billion) for capital expenditures, according to its 2021 annual report.
In Canada, CN will invest about CA$185 million for capital and maintenance projects in Saskatchewan, including replacing 25 miles of rail track, installing more than 151,000 railroad ties and rebuilding 23 road crossing surfaces. CN has invested more than CA$900 million in the last five years in Saskatchewan, where it operates 1,936 railroad route miles.
CN also plans to spend CA$40 million in New Brunswick in 2022. Maintenance projects will include the replacement of 2 miles of rail, installation of 7,000 new railroad ties and rebuilding of road crossing surfaces. The railway operates 596 route miles in New Brunswick, where it has invested more than CA$100 million in the last five years.
In the United States, CN expects to invest $150 million in Illinois, where it has spent more than $1 billion in the last five years. Maintenance projects include the replacement of more than 10 miles of rail, installation of 133,000 new railroad ties and rebuilding of 35 road crossing surfaces. The railway operates 1,254 route miles in the state.
In Tennessee, CN plans to invest $30 million toward maintenance projects, such as the installation of 38,000 railroad ties and rebuilding of 16 road crossing surfaces. The company has invested more than $200 million over the last five years in the state, where it operates 173 route miles.
“Memphis is central to everything and at the heart of the logistics and distribution industry,” Memphis Mayor Jim Strickland said in a new release. “As a valued partner, we count on CN to reliably transport goods and provide services that our city, state and country need.”
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