CN sets $1.3 billion capital spending budget for 2006
Canadian National Railway Co. said it will spend more than C$1.5 billion ($1.3 billion) on capital programs in 2006, a 9 percent increase over its spending this year.
CN aims to spend about C$800 million ($690 million) improving its infrastructure, nearly C$250 million ($215 million) on network productivity initiatives and strategic projects, more than C$325 million ($280 million) on new equipment and close to C$150 million ($130 million) on facilities, information technology and other projects.
“At close to 20 percent of revenues, CN’s capital spending plan for next year represents a significant commitment to maintain a solid rail infrastructure and to better serve our customers across North America,” said E. Hunter Harrison, president and chief executive officer of CN.