Cashu Logo
HomeWatchlistNewsSignalsPicks
DJI
+0.75%
SPX
+0.94%
IXIC
+1.52%
FTSE
+0.28%
N225
+0.48%
AXJO
-0.19%
Cashu Logo
Log In
HomeWatchlistNewsSignalsPicks
Join our newsletter to keep up to date with us!
Cashu Logo Alt
Cashu is the #1 way to stay ahead of the markets, know why your favourite stocks are moving and access valuation signals that smash the market.

Company

  • About Us
  • Careers
  • Blog
  • News

Help & Support

  • Help Center
  • Contact Us
  • Pro Support

Legal

  • Privacy Policy
  • Terms of Use
InstagramYouTube

© 2024 Cashu PTY LTD.

Canadian National Railway Co. Invests $30 Million in Tennessee for Infrastructure and Growth

publisher logo
Cashu
2 days ago
Cashu TLDR
  • Canadian National Railway Co. plans to invest $30 million in Tennessee to enhance infrastructure and promote sustainable growth.
  • This investment follows a $36 million commitment in 2024 for critical infrastructure improvements in Tennessee.
  • CN employs 655 people in Tennessee, demonstrating its commitment to the local economy through significant spending and job creation.
cnr.to Logo
CNR.TO
Canadian National Railway Co
0.82%

Canadian National Railway's Strategic Investment in Tennessee: A Commitment to Growth and Infrastructure

Canadian National Railway Co. (CN) is set to invest approximately $30 million in Tennessee as part of its ambitious 2025 capital investment program. This funding will primarily focus on enhancing infrastructure, technology, rolling stock equipment, and network improvements, reinforcing CN's commitment to safely moving goods and promoting sustainable growth across its operations. Tracy Robinson, CN's President and CEO, emphasizes the significance of these investments in building a resilient and efficient network, highlighting their role in supporting economic growth across North America.

This latest investment follows a notable $36 million commitment made by CN in Tennessee in 2024, which was directed at critical infrastructure projects such as track maintenance and enhancements at operational facilities. Specifically, over $7 million was allocated to upgrade the locomotive fueling facility at Harrison Yard, while more than $1.3 million went towards improvements at the Memphis railyard transload facility. These initiatives are part of CN's broader strategy to efficiently transport over 300 million tons of goods annually through its extensive 20,000-mile rail network that links Canada’s eastern and western coasts with the U.S. Midwest and Gulf Coast.

Employing around 655 individuals in Tennessee and operating 161 miles of railroad routes in the state, CN demonstrates a strong commitment to the local economy. The company’s local spending reached approximately $24 million, with cash taxes paid totaling $8.7 million. These figures underline CN's dedication not only to enhancing its transportation capabilities but also to fostering economic growth and community welfare. With a history that spans over a century, CN continues to prioritize sustainable trade practices that benefit the communities it serves.

In a separate development, CN has filed a Federal Court application against Parks Canada over potential flooding risks along its main line through Jasper National Park. The company has raised concerns regarding delays in evaluating flood protection proposals that could have catastrophic impacts on cross-country services. CN argues that the proposed construction of an anti-flood berm using gravel from the Snake Indian River is essential to prevent severe damage to railway infrastructure and mitigate risks of train derailments.

This application highlights the urgency of CN's flood prevention strategies, which have faced obstacles since 2017 due to evolving guidelines from Parks Canada. Although CN asserts that the berm construction would minimize environmental impact, regulatory constraints have led to disagreements over the use of internal park materials. CN’s commitment to addressing these challenges underscores its proactive approach to maintaining safe and efficient rail services essential for both the Canadian economy and the communities it connects.

The content provided here is for informational purposes only and should not be considered financial or investment advice. Investing in stocks carries risks, including potential loss of principal. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We are not responsible for any losses or damages resulting from your use of this information.

More News

Feature in Progress
This section is under development. Check back soon for updates!