Home Venture Capital Fort Worth-Based BNSF Railway Announces Nearly $4B in Planned 2024 Capital Investments...

Fort Worth-Based BNSF Railway Announces Nearly $4B in Planned 2024 Capital Investments » Dallas Innovates

38
0

Fort Worth-based railroad transportation giant BNSF Railway announced its 2024 capital investment plan of $3.92 billion. The company says the plan will play an important role in the company’s ability to operate a safe and reliable network while supporting the anticipated needs of its customers.

Katie Farmer

“This year’s capital plan reflects our continued commitment to growth, by ensuring we have the capacity and equipment needed to support our customers,” President and CEO Katie Farmer said in a statement. “We continue to invest in our network to ensure we run our railroad as safely and efficiently as possible, while building upon the strong service our customers expect.”

Nearly $3B earmarked for maintenance

The company said that the biggest part of this year’s capital plan, $2.88 billion, is devoted to maintaining BNSF’s core network and related assets.

BNSF said that investing in its existing infrastructure ensures the railroad is in top condition, resulting in less unscheduled service outages that can slow down the rail network and reduce capacity.

Maintenance projects include replacing and upgrading rail, track infrastructure like ballast and rail ties, and maintaining its rolling stock.

$440M will target equipment acquisitions

Maintenance will consist of nearly 13,000 miles of track surfacing and/or undercutting work and the replacement of 365 miles of rail and roughly 2.8 million rail ties, the company said. Roughly $440 million of this year’s capital plan is for equipment acquisitions, BNSF said.

Just under $600 million of this year’s capital plan will be for expansion and efficiency projects, adding to the nearly $2.6 billion invested in expansion projects over the past five years, BNSF said. This year’s plans support the growth of all the company’s customers across its network.

Two multiyear projects slated for completion

On its Southern Transcon route between the West Coast and the Midwest, BNSF said it will support traffic growth by completing two multiyear projects that will increase capacity throughout the corridor.

The projects include adding several segments of new track in eastern Kansas and terminal and fueling improvements near Belen, New Mexico. In Illinois, the company will continue multiyear intermodal facility expansion projects in Cicero, outside Chicago.

In California, BNSF said it will continue property acquisitions and development activities for the planned Barstow International Gateway project and complete a multiyear track efficiency improvement project in San Bernardino.

One of North America’s top freight transportation companies, BNSF Railway operates more than 32,500 route miles of track in 28 states and also operates in three Canadian provinces.

It’s one of the leading transporters of consumer goods, grain and agricultural products, low-sulfur coal, and industrial goods such as petroleum, chemicals, housing materials, food, and beverages.

Get on the list.
Dallas Innovates, every day.

Sign up to keep your eye on what’s new and next in Dallas-Fort Worth, every day.

R E A D   N E X T

  • Mobility startups from coast to coast—including those focused on innovative ideas to transport people or goods—are invited to apply.  The unique accelerator program supports startups in the automotive ecosystem, ranging from AI-powered industry solutions and transportation infrastructure to dealer support and related services.

  • In 2023, founders searching for venture capital found fewer investors and less money. Pitchbook reports that the number of U.S. deals in the first three quarters of 2023 was just slightly higher than the number made during the same period in 2018.   In North Texas, it was a similar story. But even as investment markets have tightened, Dallas-based Beyond Capital is working to reverse that trend by investing in more startups. In the first quarter of 2024, it’s opening its third fund to new investors.   Beyond Capital looks for startups in need of Seed to Series A investment. What…

  • D CEO and Dallas Innovates Innovation Awards 2024

    We’re searching for the entrepreneurs, executives, and trailblazers driving meaningful change in North Texas. Submit your nominations for D CEO and Dallas Innovates The Innovation Awards 2024 by Thursday, September 14. Celebrate the companies and individuals leading innovation across sectors like AI, cybersecurity, healthcare, consumer goods, real estate, and more.

  • The newly established Texas Capital Foundation is following the first round of grant awards by opening again for new submissions this November.

  • Innovators across North Texas have come up with great ideas for panels at the 2024 SXSW Conference and SXSW Edu Conference. But with thousands of ideas being submitted, only the best will go live in Austin next March. Luckily, your “Panel Picker” vote could be just the thing to help a local panel snag a spot.

Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here