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The Societe de transport de Montreal (STM) has introduced its three-year capital expenditures program, which is valued at more than $2.8 billion (in Canadian dollars.)The investments are needed to upgrade or replace equipment and infrastructure that's reaching the end of its service life in the next few years, STM officials said in a news release. "The STM is investing to maintain its assets so that it can increase the reliability, punctuality and accessibility of transit services while improving customer information," said STM Chair Philippe Schnobb, noting that the agency has accumulated a $4.3 billion deficit with asset maintenance in recent decades. About 73 percent of the $2.8 billion program will go toward equipment and installations over the next three years, Schnobb said. The capital program outlines 43 projects, including a $1.1 billion plan to purchase new AZUR railcars, which are expected to increase the agency's passenger capacity by 8 percent as older cars are replaced, STM officials said. Additionally, the agency's capex program calls for spending $277 million on station renovations, including $36 million for ongoing refurbishment of the Berri-Universite de Quebec a Montreal (UQAM) station.Montreal's administrative region and the governments of Quebec and Canada are funding about $2.2 billion of the STM's capital program, agency officials said.