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Rail News: Rail Industry Trends

CPR to cut capital spending about $100 million in 2006

With its western Canada capacity expansion program out of the equation, Canadian Pacific Railway expects to spend less on capital improvement projects this year. The Class I will spend between $810 million and $825 million on 2006 capital expenditures compared with 2005’s $920 million capital spending budget, which included funds for the capacity program.

The 2006 budget includes $570 million to maintain and upgrade rail, ballast, crossties and automated signal systems, and extend and build sidings; $160 million to maintain, overhaul and acquire locomotives; $50 million to improve information technology; and $25 million to expand intermodal terminal capacity and maintain other facilities.

“Our investments in 2006 will take execution of scheduled operations to a new level of excellence, [and] improve fluidity and service to support growth,” said CPR Chief Executive Officer Rob Ritchie in a prepared statement.

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More News from 1/3/2006