CN to invest $95M in Manitoba

CN to invest $95M in Manitoba
Share this article

MONTREAL – CN (TSX : CNR) (NYSE : CNI) reported plans to invest approximately C$95 million in Manitoba in 2021 as part of CN’s C$3 billion capital investment plan across its network. In Manitoba, CN’s investment will focus on technology, and infrastructure maintenance to enhance safety and the fluidity of its network.

“Our consistent and proactive infrastructure investment strategy and the essential work of our employees and supply chain partners are what enable CN to keep the economy moving safely and smoothly year after year. Safety is a core value at CN and we will continue to invest in our track and in technology to support our overall network capacity and provide our customers with safe and reliable service. As we look to the future, we are excited about the opportunity to do even more for our customers, employees, communities and shareholders through our end-to-end, pro-competitive combination with Kansas City Southern, which will connect North America and build the premier railway for the 21st Century.” – James Thompson, Vice-President, Western Region at CN

“Our government salutes CN for its commitment to rail safety and the fluidity of its network while minimizing pollution. We will continue to support green projects that keep Canadians safe, stimulate the economy, and ensure that our rail network remains one of the most efficient and secure rail transportation systems in the world. This announcement will help create good middle-class jobs and help move goods efficiently to market, and people to their destinations.” – The Honourable Omar Alghabra, Minister of Transport, Government of Canada

“Our government recognizes the importance of railways in the province’s economic development. Railways provide highly-skilled jobs, they provide a means for Manitobans to deliver their products to the global marketplace, and are key transport links for many Manitobans. We are committed to furthering railway safety and continue to work collaboratively with organizations and industry partners to ensure safe and reliable infrastructure for the movement of essential goods.” – The Honourable Ron Schuler, Minister of Infrastructure, Government of Manitoba

Maintenance program highlights include:

  • Replacing 29 miles of rail;
  • Installing approximately 118,000 new railroad ties;
  • Rebuilding 17 road crossing surfaces; and
  • Maintenance work on bridges, culverts, signal systems, and other track infrastructure

Manitoba in numbers:

  • Capital investments: More than $610 million in the last five years
  • Employees: approximately 2,400
  • Railroad route miles operated: 864
  • Community partnerships: $536,000 in 2020
  • Local spending: $759 million in 2020
  • Cash taxes paid: $37 million in 2020

CN’s overall investment plan reflects CN’s determination to play an important role in the economic recovery and to be part of the climate solution. They say by creating a more fluid and more efficient network, it will encourage the use of rail for long haul transportation, leading to reduced emissions. CN is one of only three Canadian companies listed on CDP’s prestigious Climate A-List.

The proposed end-to-end merger between CN and Kansas City Southern will create a transportation network across North America, enhancing competition, spurring economic growth and delivering benefits to the local communities in which both railroads operate. The transaction will provide an enhanced platform for growth, capital investment, and job creation. Together with KCS, CN’s industry-leading commitment to science-based climate targets and a faster, safer network will result in a cleaner connected continent.

CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 19,500-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN says it is committed to programs supporting social responsibility and environmental stewardship.

We seek Safe Harbor.

Related posts

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.