CN to spend C$3.4B on capital projects in 2025

CN today announced it would spend about C$3.4 billion on capital projects this year to increase capacity and improve safety on its rail network.

This year’s capital program includes C$2.9 billion allocated to CN's maintenance and strategic infrastructure initiatives across Canada and the United States.

Projects already underway include over 225 miles of new rail installation and eight capacity building projects in western Canada scheduled to come online by the end of this year, CN officials said in a press release.

As part of the capex budget, CN also will allocate C$500 million to upgrade and expand its rolling stock.

"Our 2025 capital program reflects a clear focus on strengthening the resilience, efficiency and sustainability of our operations," said CN President and CEO Tracy Robinson.

In 2024, CN's capex budget was C$3.5 billion, of which $1.7 billion was spent to maintain the safety and integrity of its network, particularly track infrastructure. Last year's capex investments included:

• C$75 million in a 4-mile siding extension in the Chicago area, boosting capacity by 17%;

• advancing projects to improve fluidity and capacity in the greater Vancouver, British Columbia, such as a C$7.6 million initial investment in the multiyear Holdom Overpass project, and C$2 million for enhancements to the Thornton Tunnel, as well as another C$7 million for upgrades to both the Lulu Island and Fraser River bridges; and

• over C$60 million invested with project partners toward the completion of Phase 1 and advancement of Phase 2 of the new high efficiency loading fuel terminal at CN’s MacMillan Yard in Vaughn, Ontario, serving customers in the Toronto area.