Harrison said: 'CN's purchase of regional railways in Alberta and our commitment to upgrade these railways, our substantial investments in network capacity and new locomotive acquisitions, along with the investments to support global trade at the Port of Prince Rupert and in-land at Prince George, B.C., are significant for the economy of Canada.
'We are protecting and ensuring the sustainability of rail service to resource industries in Alberta and investing in plant and equipment to provide quality rail infrastructure and service to all Canadian shippers. CN's investments are strengthening the Canadian rail network and helping to support the competitiveness of Canadian industry in North American and global markets.'
CN has targeted its significant investments on the following additions and improvements to its rail infrastructure:
- In December 2007, the Company announced the C$25-million acquisition of the Athabasca Northern Railway Ltd. (ANY) and plans to rehabilitate ANY's rail line for C$135 million over three years.
- CN in 2006 purchased the Mackenzie Northern (MKNR) Railway and Lakeland & Waterways Railway (LWR) for C$26 million and the Savage Alberta Railway, Inc., (SAR) for C$25 million. The Company spent more than C$60 million upgrading the three railways in 2006 and 2007, and will spend another C$26 million on further upgrades to the properties in 2008.
- CN invested almost C$300 million in Canada during 2003-2007 to extend sidings for more efficient train operations, to increase network train speeds and to improve the fluidity of yards and terminals.
CN's extended siding program includes longer passing tracks on the Company's BC North Line to the Port of Prince Rupert, home of a new international container terminal that opened in October 2007. As part of its Rupert investments, CN committed approximately C$100 million to the acquisition of new locomotives to handle the container traffic between the port and the principal centers of Canada and the United States Midwest.
