Canadian National Stock – CN Rail to invest C$445 mln in British Columbia in 2020
June 29 (Reuters) – Canadian National Railway Co said on Monday it plans to invest about C$445 million ($324.94 million) across British Columbia this year to add rail tracks and handle growing traffic at the country’s biggest railroad.
The investments include building about 3.5 miles of double track between Vancouver and Edmonton, replacing more than 100 miles of rail and installing over 209,000 new railroad ties.
Montreal-based CN, which has 2,465 employees in British Columbia, said the investments would also help enable supply chains.
The company in April withdrew its full-year 2020 forecast following the pandemic and expects a tough second quarter for its energy unit.
$1 = 1.3695 Canadian dollars Reporting by Sanjana Shivdas in Bengaluru; Editing by Ramakrishnan M.