Union Pacific Railroad Making $1.3 Billion Investment
Union Pacific Railroad is spending $1.3 billion this year on track improvements across its 33,000-mile system.
(I-Newswire) - During 2005, crews are:
Removing and installing 4.4 million ties, of which 3.7 million are wood; 355,000 concrete; and 215,000 composite; Spreading 6.8 million tons of rock ballast to ensure a stable roadbed; Replacing 1,055 miles of rail; and Surfacing 7,800 miles. "We continue to invest in our physical plant to assist with providing a safe infrastructure while at the same time enhancing velocity of our train operations," said Dennis Duffy, executive vice president – Operations.
Union Pacific also will spend an additional $295 million to increase capacity on its Sunset Route in Arizona and in the North Platte, Neb., area. This spending also includes construction of eight new side tracks – two each in Texas and Utah and one each in Oklahoma, California, Iowa and Arizona.
UP also is spending $220 million this year on commercial facilities including:
Support tracks for the new Toyota plant in San Antonio; Intermodal yards in Wilmer, Texas and Salt Lake City, Utah; and Support tracks at ethanol plants in Iowa and Minnesota. "Supporting our customers with modern and efficient facilities assists with the fluid operation of the railroad and has always been a strategic element of our capital program," said Jack Koraleski, executive vice president – marketing and sales.
These investments are part of Union Pacific’s total capital budget for 2005, which includes over $2 billion in cash capital expenditures that will be used to maintain or enhance its physical plant. In addition, the company plans to acquire 315 new locomotives and over 4,000 railcars through short or long-term leases.
Union Pacific Corporation owns one of America’s leading transportation companies. Its principal operating company, Union Pacific Railroad, is the largest railroad in North America, covering 23 states across the western two-thirds of the United States. A strong focus on quality and a strategically advantageous route structure enable the company to serve customers in critical and fast growing markets. It is a leading carrier of low-sulfur coal used in electrical power generation and has broad coverage of the large chemical-producing areas along the Gulf Coast. With competitive long-haul routes between all major West Coast ports and eastern gateways, and as the only railroad to serve all six major gateways to Mexico, Union Pacific has the premier rail franchise in North America.
For further information, contact Mark Davis ( 402 ) 544-5459.
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.
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