Benzinga | Jun 21, 2021 08:12AM EDT

CN Reports C$15M Investment In New Brunswick To Ensure Fluidity, Safety Of Its Network While Minimizing Greenhouse Gas Emissions

The Company is increasingly optimistic about the economic recovery and these investments will help meet the demand and future needs of customers

MONTREAL, June 21, 2021 (GLOBE NEWSWIRE) -- CN (TSX : CNR) (NYSE : CNI) announces plans to invest approximately C$15 million in New Brunswick in 2021 as part of CN's C$3 billion capital investment plan across its network. In New Brunswick, CN's investment will focus on technology, and infrastructure maintenance to enhance safety and the fluidity of its network.

"Our consistent and proactive infrastructure investment strategy and the essential work of our employees and supply chain partners are what enable CN to keep the economy moving safely and smoothly year after year. Safety is a core value at CN and we will continue to invest in our track and in technology to support our overall network capacity and provide our customers with safe and reliable service. As we look to the future, we are excited about the opportunity to do even more for our customers, employees, communities and shareholders through our end-to-end, pro-competitive combination with Kansas City Southern, which will connect North America and build the premier railway for the 21st Century."

- Derek Taylor, Vice-President, Eastern Region at CN

"Our government salutes CN for its commitment to rail safety and the fluidity of its network while minimizing pollution. We will continue to support green projects that keep Canadians safe, stimulate the economy, and ensure that our rail network remains one of the most efficient and secure rail transportation systems in the world. This announcement will help create good middle-class jobs and help move goods efficiently to market, and people to their destinations."

- The Honourable Omar Alghabra, Minister of Transport, Government of Canada

"The investments being made in New Brunswick's rail system is an important support to our economic growth plan objective to grow and diversify our exports."

- The Honourable Ernie Steeves, Minister, Finance & Treasury Board, Government of New Brunswick

Maintenance program highlights include:

* Replacing 5 miles of rail;

* Installing approximately 7,000 new railroad ties;

* Rebuilding 19 road crossing surfaces; and

* Maintenance work on bridges, culverts, signal systems, and other track infrastructure

New Brunswick in numbers:

* Capital investments: Approximately $135 million in the last five years

* Employees: approximately 310

* Railroad route miles operated: 569

* Community partnerships: $230,000 in 2020

* Local spending: $54 million in 2020

* Cash taxes paid: $2.3 million in 2020

CN's overall investment plan reflects CN's determination to play an important role in the economic recovery and to be part of the climate solution. By creating a more fluid and more efficient network, we encourage the use of rail for long haul transportation, leading to reduced emissions. CN is one of only three Canadian companies listed on CDP's prestigious Climate A List. To learn more on how CN is building for a sustainable future please visit www.delivering-responsibly.cn.ca/.

The proposed end-to-end merger between CN and Kansas City Southern will create a transportation network across North America, enhancing competition, spurring economic growth and delivering benefits to the local communities in which both railroads operate. The transaction will provide an enhanced platform for growth, capital investment, and job creation. Together with KCS, CN's industry-leading commitment to science-based climate targets and a faster, safer network will result in a cleaner connected continent.

To learn more about the CN-KCS combination, please visit www.connectedcontinent.com.