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.