THE Canadian National Railway (CN) will spend C$2.1 billion (US$1.9 billion) this year on rail network upgrades and equipment with an accent on safety and efficiency.
Mr Mongeau said the money will raise safety and efficiency, improve service and grow the business.
"The acquisition of new locomotives and equipment and the enhancement of information systems and technology will help support operational and service excellence," said CN president and CEO Claude Mongeau.
The company also wish to take advantage of business opportunities in intermodal, energy and other resource and manufacturing markets."
The company is to spend more than C$1.2 billion this year on track to improve the safety, productivity and fluidity. This includes the replacement of rail, ties and bridge improvements, as well as branch-line upgrades.
CN's equipment expenditures in 2014 are to reach C$300 million to tap growth opportunities and improve the quality of the fleet. By the end of 2014, CN will have acquired 763 high-horsepower locomotives over a 10-year period, more than half of its high-horsepower mainline fleet.
CN also expects to spend C$600 million in 2014 on facilities to grow the business, including transloading terminals, distribution centres and the completion of its Calgary Logistics Park project.
This also includes capital for information technology to improve service and operating efficiency, and for other projects to increase the productivity.
The company is also spending to enhance its system-wide flaw detection capabilities. CN will also complete the construction in 2014 of two state-of-the-art training facilities - one in Winnipeg, the other near Chicago - to strengthen safety culture.
Source : HKSG.