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BNSF budgets record $4.1 billion for capex in 2013
BNSF Railway Co.
on Friday announced it plans to spend a record $4.1 billion on capital expenditures in 2013, a $450 million increase compared with the 2012 capital spending budget of $3.6 billion.
The largest component of 2013 capex: $2.3 billion for improvements to the core network and related assets. BNSF also plans to spend about $1 billion on locomotive, freight-car and other equipment acquisitions; $550 million for terminal, line and intermodal expansion and efficiency projects; and $250 million for the continued installation of a positive train control system.
Expansion and efficiency projects primarily will be focused on capacity expansion to accommodate Bakken Shale-related industrial products growth, intermodal terminal expansions — such as the completion of the Kansas City Intermodal Facility — and other terminal improvements designed to enhance productivity and velocity.
"This record capital plan continues our long-term focus on ensuring our network is prepared for the growing U.S. demand for freight rail," said BNSF Chairman and Chief Executive Officer Matt Rose in a prepared statement. "We are focused on investing to meet our customers' expectations and to expand capacity where growth is occurring."
BNSF's capital budgets prior to 2012 included $3.5 billion in 2011 and $2.6 billion in 2010.
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