Canadian Pacific Railway Ltd. is planning to invest about a billion dollars on capital projects in 2011, with the largest share of this spending on basic track infrastructure renewal.
"Our first priority is to re-invest in the business keeping our core franchise safe and well maintained,” said CP chief financial officer Kathryn McQuade. “The improving economy creates opportunities to capture growth more efficiently through infrastructure and technology investments.”
CP Canadian Pacific Railway Ltd. on Wednesday revealed its capital spending plans for 2011, announcing that it will be investing between $950-million and $1.05-billion for capital projects during the year.
The capital plan for 2011 includes investments of between $950-million and $1.05-billion.
Track infrastructure renewal accounts for about $680 million of this investment, while $200-million will be spent on volume growth, productivity initiatives and network enhancements.
Shipment information needs will be enhanced by spending $80 million to upgrade IT systems. An initiative to address capital regulated by governments, principally train control, will receive $ 40-million.