January 18, 2012

CP to invest $C 1.2bn this year

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CANADIAN Pacific Railway today announced it will invest between $C 1.1bn ($US 1.08bn) and $C 1.2bn on infrastructure renewal, network enhancements and expansion projects in 2012 as part of its multi-year plan, which aims to improve service and increase network capacity while funding business development and initiatives with a rapid return on investment.
cp_cap_plan_2012.jpgThe 2012 capital plan calls for an allocation of $C 800m to maintain capacity through replacement or renewal of depleted assets, $C 275m for network capacity expansion, business development projects and productivity initiatives, and $C 50m to address government-mandated projects, primarily PTC in the United States.
"At CP we are executing our accelerated multi-year investment plan to further improve service reliability, and operational efficiency, while expanding capacity to safely and efficiently support higher volumes," says Mr Fred Green, CP president and CEO. "We are confident that the investments we are making under our 2012 Capital Plan will allow us to achieve a low 70s operating ratio in the next three years."

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