CN sets C$1.6 billion capital budget for 2007
Canadian National Railway Co. said it will spend C$1.6 billion ($1.4 billion) on capital programs in 2007, a 4 percent increase over its spending this year.
CN has budgeted more than C$800 million ($703 million) in 2007 on basic capital, replacing rail, ties and other track materials and improving bridges. CN will also invest close to C$200 million ($176 million) in network and growth-related projects, about C$350 million ($308 million) on new equipment and more than C$200 million ($176 million) on facilities, information technology and other projects.
'In 2007 we will invest more than C$1 billion ($879 million) in track infrastructure to maintain a safe railway and to improve the productivity and fluidity of our network across Canada and mid-America. This reflects our key priorities — plant quality and safety, building capacity and speed, accelerating growth potential, and improving productivity across the board,' said E. Hunter Harrison, CN's president and chief executive officer.
CN sets C$1.6 billion capital budget for 2007
