CN to Invest $25 Million in Louisiana Enabling Sustainable Growth, Improving Capacity and Advancing the Company’s Commitment to Safety
CN plans to invest approximately $25 million in Louisiana during 2022, focusing on technology, capacity, rolling stock, and decarbonization initiatives. These enhancements aim to ensure safe goods movement across CN's transcontinental network. Recent maintenance will include replacing 4 miles of rail, installing 20,000 new ties, and rebuilding 16 road crossings. Over the past five years, CN has invested more than $300 million in Louisiana, maintaining strong community partnerships and local economic contributions.
- Investing $25 million in Louisiana for technology and infrastructure improvements.
- Recent maintenance activities include replacing rail and installing new ties to enhance safety and efficiency.
- Over $300 million invested in Louisiana over the last five years, indicating strong commitment to the region.
- None.
CN is building the premier railway of the 21st century by investing in Louisiana
HOMEWOOD, Ill., June 28, 2022 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately
“We continue to make significant investments in our network, technology, and capacity. We are building the premier railroad of the 21st century to do even more for our customers, railroaders, shareholders, and the communities in which we operate.”
– Sean Finn, Executive Vice-President, Corporate Services and Chief Legal Officer of CN
“CN is an integral part of the transportation system here in Louisiana, safely and reliably serving New Orleans and our industrial corridor on the Mississippi River, including my hometown of Amite, Louisiana. I thank CN for being a strong local partner, and I look forward to a continued relationship with the railroad as we work towards growing the state economy and bettering the communities we serve.”
– John Bel Edwards, Governor of Louisiana
Maintenance program highlights include:
- Replacing 4 miles of rail;
- Installing approximately 20,000 new railroad ties;
- Rebuilding 16 road crossing surfaces; and
- Maintenance work on bridges, culverts, signal systems, and other track infrastructure
Louisiana in numbers:
- Capital investments: More than US
$300 million in the last five years - Employees: approximately 280
- Railroad route miles operated: 239
- Community partnerships: US
$9,000 in 2021 - Local spending: US
$29 million in 2021 - Cash taxes paid: US
$9 million in 2021
Forward-looking Statements
Certain statements included in this news release constitute “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. By their nature, forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Forward-looking statements may be identified by the use of terminology such as “believes,” “expects,” “anticipates,” “assumes,” “outlook,” “plans,” “targets,” or other similar words. Forward-looking statements reflect information as of the date on which they are made. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.
About CN
CN is a world-class transportation leader and trade-enabler. Essential to the economy, to the customers, and to the communities it serves, CN safely transports more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year. As the only railroad connecting Canada’s Eastern and Western coasts with the U.S. South through a 18,600-mile rail network, CN and its affiliates have been contributing to community prosperity and sustainable trade since 1919. CN is committed to programs supporting social responsibility and environmental stewardship.
Contacts:
| Media | Investment Community |
| Mathieu Gaudreault | Paul Butcher |
| Senior Advisor | Vice-President |
| Media Relations | Investor Relations |
| 514-249-4735 media@cn.ca | (514) 399-0052 investor.relations@cn.ca |
FAQ
What are CN's investment plans for Louisiana in 2022?
How much has CN invested in Louisiana over the last five years?
What specific maintenance work is CN planning in Louisiana?
What is the significance of CN's investment in Louisiana for shareholders?
