January 25, 2013

CSX plans $US 2.3bn capital investment in 2013

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CSX plans $US 2.3bn capital investment in 2013 John Mueller

US Class 1 railway CSX says it plans to invest around $2.3 bn in its business in 2013 supporting initiatives to help meet long-term demand for railfreight, improve customer service and support the company's plans for long-term growth.

Many of the investments are related to long-term initiatives, including the National Gateway project to create a double-stack intermodal route between the Mid-Atlantic ports and the Midwest, and $US 325m for the implementation of Positive Train Control (PTC).

Mr Michael Ward, president, chairman and CEO says that overall growth, excluding coal, should be at a rate above that of the general economy this year.

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