CN Rail Targets New Investment Record as Freight Demand Expands
- Ruest boosts capital spending again with C$3.9 billion plan
- Shipments of grain, oil and consumer goods are increasing
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Canadian National Railway Co. is planning its second straight year of record investment as pressure builds to haul more commodities and consumer goods.
Capital spending this year will climb to about C$3.9 billion ($2.95 billion), including about C$1.6 billion for maintenance on railway infrastructure, the company said in a statement Tuesday as it reported earnings. Canadian National had been targeting spending of C$3.5 billion for 2018.