CN is pledging to invest approximately $105 million in Saskatchewan this year, in support of maintenance and infrastructure projects that are expected to expand supply chains and meet growing demand for prairie producers.
The investments will be used largely on track infrastructure projects, including the replacement of rail ties and the maintenance of bridges, level crossings, culverts, signal systems, and more.
CN expects to see these projects create greater capacity and encourage more customers to use rail for long hauling products, which would reduce the transportation supply chain greenhouse gas (GHG) emissions by up to 75 per cent, and reduce traffic congestion and accidents on public roads.
“We take our essential role in the North American economy seriously and these investments in Saskatchewan are a key part of our strategy to support growth. The Company remains committed to help enable supply chains that fuel Saskatchewan’s growth as we are a critical part of getting everyday goods to markets and consumers,” said vice-president of the western region James Thompson, in a press release.
Projects in southern Saskatchewan include replacing more than 65 miles of rail, installing over 145,000 new railroad ties, rebuilding 12 road crossings, and other maintenance and safety projects.
“Safety is a core value at CN and by investing in the maintenance and expansion of our track and capacity, we are providing customers with a safe and reliable solution at a time when fluid supply chains are more critical than ever,” continued Thompson.
CN transports an estimated $250 billion worth of goods each year, with grains, fertilizers, and potash making up a large amount of the shipments handled by CN in the province.
The newly announced investment funding is expected to continue expanding CN’s capabilities in moving goods through the intermodal terminals in Saskatoon, Regina, Bienfait and North Battleford onto major terminals and global markets all over North America.
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
