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Yahoo
4 days ago
- Business
- Yahoo
CN to invest $295m in US under 2025 capital investment programme
Canadian National Railway (CN) has announced a significant investment of approximately $295m across various states in the US, including Illinois, Mississippi, Tennessee and Indiana, as part of its 2025 capital investment programme. CN's 2025 capital expenditure plan, which totals around C$3.4bn ($2.4bn), is dedicated to improving capacity and safety across its North American operations. In Illinois, CN is investing $170m towards track maintenance, the construction of the Chicago Logistics Hub, and the enhancement of technology and training facilities at CN's Homewood Campus. This initiative is set to facilitate the safe and efficient movement of goods while promoting sustainable growth in the region and throughout CN's network. CN president and CEO Tracy Robinson said: 'We believe that investing in our network is about building for the future. 'Our continued infrastructure investment in Mississippi will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.' CN has also announced an investment of $75m in Mississippi towards network improvements. In the previous year, CN channelled roughly $56m into Mississippi for similar purposes, with notable projects such as a $250,000 upgrade at the Jackson railyard and capacity enhancements on the Beaumont Subdivision. MDOT Southern District Transportation commissioner Charles Busby said: 'We appreciate CN's commitment to Mississippi and its investment in our cities and counties. CN is a critical component of our state's transportation and business sectors with operations in multiple regions. Their focus on safety strengthens our communities.' In Tennessee, CN is set to invest approximately $30m in infrastructure, technology, rolling stock, and enhancements to the network. In 2024, CN allocated around $36m in Tennessee for track maintenance and essential infrastructure projects. Tennessee Department of Transportation Planning Bureau assistant bureau chief Dan Pallme said: 'The Tennessee Department of Transportation is excited about CN's investments in Tennessee. The approximately $30 million will increase the entire system's fluidity as Tennessee continues to grow, connecting CN with its customers in Tennessee and beyond. 'The investment will support TDOT's vision of providing a safe and reliable transportation system for people, goods, and services, supporting Tennessee's economic prosperity." Furthermore, CN announced an investment of around $20m in Indiana to increase capacity and upgrade rolling stock. Last month, CN revealed an investment of C$2.1bn ($1.51bn) to be distributed across various Canadian provinces. This funding is part of a concerted effort to enhance rail infrastructure, focusing on track maintenance and strategic initiatives that will increase capacity, ensure safety, and support sustainable growth. "CN to invest $295m in US under 2025 capital investment programme" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
Yahoo
4 days ago
- Business
- Yahoo
CN to Invest $85 Million in Michigan to Build Capacity and Power Sustainable Growth
HOMEWOOD, Ill., June 16, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately US$85 million in Michigan, as part of its 2025 capital investment program. This investment will support track maintenance and strategic infrastructure initiatives in the state. This includes projects to build intermodal capacity and upgrades to improve operations at CN's Lansing, Battle Creek and Flint railyards. These projects will help ensure the safe movement of goods and support long-term sustainable growth in Michigan and across CN's network. 'We believe that investing in our network is about building for the future. Our continued infrastructure investment in Michigan will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.' - Tracy Robinson, President, and Chief Executive Officer of CN 'As a member of the House Transportation Committee, we focus on a robust freight transportation network across Michigan. CN is a key component to moving freight efficiently and safely. I have seen this up close over the years as they move goods through my district in Calhoun County and Battle Creek. Michigan needs a strong rail network, and CN is a leader in making significant investments in the Great Lakes State." - Steve Frisbie, State Representative, Michigan's 44th House District In 2024, CN invested approximately US$79 million in Michigan for track maintenance and key infrastructure initiatives. Highlights of this investment include: Over US$3 million to support the completion of the CN's Flat Rock Transload facility Over US$5 million for upgrades to CN's Autoport operations in Lansing Over US$4 million to support automotive facility in Lake Orion Michigan in Numbers: Employees: approximately 1,033 Railroad route miles operated: 812 Community investments: US$ 144,000 in 2024 Local spending: US$136 million in 2024 Cash taxes paid: US$8.1 million in 2024 CN Forward-Looking Statements Certain statements by CN 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. CN 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 CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since Michnowski Stacy Alderson Senior Manager Assistant Vice-President Media Relations Investor Relations (438) 596-4329 (514) 399-0052 media@ in to access your portfolio
Globe and Mail
4 days ago
- Business
- Globe and Mail
CN to Invest $85 Million in Michigan to Build Capacity and Power Sustainable Growth
HOMEWOOD, Ill., June 16, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately US$85 million in Michigan, as part of its 2025 capital investment program. This investment will support track maintenance and strategic infrastructure initiatives in the state. This includes projects to build intermodal capacity and upgrades to improve operations at CN's Lansing, Battle Creek and Flint railyards. These projects will help ensure the safe movement of goods and support long-term sustainable growth in Michigan and across CN's network. 'We believe that investing in our network is about building for the future. Our continued infrastructure investment in Michigan will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.' - Tracy Robinson, President, and Chief Executive Officer of CN 'As a member of the House Transportation Committee, we focus on a robust freight transportation network across Michigan. CN is a key component to moving freight efficiently and safely. I have seen this up close over the years as they move goods through my district in Calhoun County and Battle Creek. Michigan needs a strong rail network, and CN is a leader in making significant investments in the Great Lakes State." - Steve Frisbie, State Representative, Michigan's 44 th House District In 2024, CN invested approximately US$79 million in Michigan for track maintenance and key infrastructure initiatives. Highlights of this investment include: Over US$3 million to support the completion of the CN's Flat Rock Transload facility Over US$5 million for upgrades to CN's Autoport operations in Lansing Over US$4 million to support automotive facility in Lake Orion Michigan in Numbers: Employees: approximately 1,033 Railroad route miles operated: 812 Community investments: US$ 144,000 in 2024 Local spending: US$136 million in 2024 Cash taxes paid: US$8.1 million in 2024 CN Forward-Looking Statements Certain statements by CN 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. CN 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 powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since 1919. Contacts:
Yahoo
4 days ago
- Business
- Yahoo
CN to Invest $60 Million in Minnesota to Build Capacity and Power Sustainable Growth
HOMEWOOD, Ill., June 16, 2025 (GLOBE NEWSWIRE) -- CN (TSX: CNR) (NYSE: CNI) announced today plans to invest approximately US$60 million in Minnesota, as part of its 2025 capital investment program. This investment will support track maintenance and strategic infrastructure initiatives in the state. The projects will help ensure the safe movement of goods and support long-term sustainable growth in Minnesota and across CN's network. 'We believe that investing in our network is about building for the future. Our continued infrastructure investment in Minnesota will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate.' - Tracy Robinson, President, and Chief Executive Officer of CN 'CN's significant investments in Two Harbors, Minnesota, to enhance its operations and infrastructure including the addition of a new loop track and upgrading its rail yard. While improving CN's efficiency it also solidifies jobs for Two Harbors residents. These investments reinforce CN's commitment not only to Two Harbors, but to supporting Minnesota's iron ore supply chain and strengthening its transportation network.' - Lew Conner, Mayor, Two Harbors, Minnesota In 2024, CN invested approximately US$77 million in Minnesota for track maintenance and key infrastructure initiatives. Highlights of this investment include: - Over US$9 million to upgrade and improve operations at CN's Two Harbors rail yard - More than US$2.5 million to upgrade and build capacity at CN's Duluth Iron Ore Dock Minnesota in Numbers: Capital investments: Approximately US$ 77 million in 2024 Employees: approximately 569 Railroad route miles operated: 426 Community investments: US$ 60,000 in 2024 Local spending: US$117 million in 2024 Cash taxes paid: US$19 million in 2024 CN Forward-Looking Statements Certain statements by CN 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. CN 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 CNCN powers the economy by safely transporting more than 300 million tons of natural resources, manufactured products, and finished goods throughout North America every year for its customers. With its nearly 20,000-mile rail network and related transportation services, CN connects Canada's Eastern and Western coasts with the U.S. Midwest and the U.S. Gulf Coast, contributing to sustainable trade and the prosperity of the communities in which it operates since Michnowski Stacy Alderson Senior Manager Assistant Vice-President Media Relations Investor Relations (438) 596-4329 (514) 399-0052 media@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
CN to invest $20M in Indiana to build capacity
CN (CNI) announced plans to invest approximately $20M in Indiana in 2025, as part of its 2025 capital investment program. This investment will support track maintenance and strategic infrastructure initiatives in the state. This includes investments to increase capacity and upgrade rolling stock. 'We believe that investing in our network is about building for the future. Our continued infrastructure investment in Indiana will help strengthen the resiliency and efficiency of our network across the state. Our focus remains on providing exceptional service to our customers and supply chain partners, supporting strong economic growth for North America and across communities where we operate,' said Tracy Robinson, President, and CEO of CN. Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>> See Insiders' Hot Stocks on TipRanks >> Read More on CNI: Disclaimer & DisclosureReport an Issue CN to invest $75M in Mississippi to build capacity, power sustainable growth CN to invest $170M in Illinois in 2025 CN price target raised to C$165 from C$160 at Scotiabank CN Launches C$1 Billion Debt Offering for Strategic Growth CN to invest C$80M in Atlantic Canada to build capacity Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
