May 08, 2013

CP steps up 2013 capital investment

Written by 
  • Print
  • Email
CP steps up 2013 capital investment Philip Wormald

CANADIAN Pacific Railway (CP) announced on May 7 that it will bring forward a number of capital of investment projects planned for 2014 into the current financial year, increasing the $US 1.1bn budget announced in December 2012 by $US 75-100m.

CP says the projects have been selected primarily to improve productivity, safety and efficiency. They include track upgrading on the Winnipeg – Edmonton main line, signalling improvements on the Moose Jaw – Chicago line, and acquisition of core assets that would otherwise be leased.

Last month CP announced record first quarter results, with revenues climbing 53% year-on-year to $US 213m. Quarterly operating ratio also reached a record 75.8%, a 430 basis point improvement.

Get the latest rail news

IRJ Rail Brief newsletter covers global railway news