Claude Mongeau, president and chief executive officer, said: “Infrastructure investments, the acquisition of new locomotives and equipment and the enhancement of information technology systems will help support our agenda of operational and service excellence.
“They will also make our customers more competitive in domestic and global markets and position us to maximise further business opportunities in intermodal, energy and other resource and manufacturing markets in 2013 and beyond.”
He added that more than C$1bn in 2013 will be spent on track infrastructure. This investment will include the replacement of rail, ties and other track materials, and bridge work, as well as capacity and productivity improvements.
CN also expects to spend approximately C$700m to grow with its customers across a range of markets as they expand their business.
In addition, CN said it will target approximately C$200m in 2013 for the acquisition of locomotives, intermodal equipment and vehicles as well as locomotive and car refurbishments. The company expects to take delivery of 40 new and 37 second-hand high-horsepower locomotives over the next 24 months, after also acquiring 25 new and 123 second-hand high-horsepower locomotives in 2012.
