CN announced Monday it anticipates spending $355 million in 2022 to improve infrastructure in Illinois, Tennessee, Saskatchewan and New Brunswick.
The port is undergoing a modernization initiative and aims to double container capacity as part of a broader effort to attract market share from Northeast and Midwest customers.
About CA$95 million of the CA$3 billion 2021 capital investment budget will go toward projects in Alberta, Ontario, Manitoba and New Brunswick.
CP will serve Hapag-Lloyd at the New Brunswick port through 2025.
The C$230 million it will spend on the three provinces are on top of C$1.3 billion previously announced for five other provinces.
Purchase of fellow New Brunswick carrier adds a long-haul open-deck business that serves Canada and the United States
