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Union Pacific plans to invest $3.4 billion in 2024 to support safe operations, renew assets and grow with customers. That’s the equivalent of spending more than $9 million every day to make the railroad safer and generate economic and supply chain activity across its 23-state footprint, boosting local, regional and the national economy.
An estimated 56% of the capital plan, or $1.9 billion for safe operations will go toward upgrading and replacing infrastructure, such as rail, ties, and ballasts, along with $0.6 billion toward locomotives and equipment.
“We invest to keep our railroad and employees safe, and we will never compromise on that,” said CEO Jim Vena. “We also spend capital dollars to provide a quality service product, and strong service, creating a winning environment for our customers.”
Union Pacific will continue to modernize the locomotive fleet, upgrading older core units. The plan also includes targeted freight car acquisitions to support replacement and growth opportunities.
In addition, we are investing in capacity and technology projects across our network, such as siding extensions, to increase capacity, improve productivity and operational efficiency.
The railroad also will continue to expand its intermodal footprint, supporting business development in targeted, high growth areas, such as Southern California, Phoenix, and Kansas City.
About Union Pacific
The Union Pacific Railroad (reporting marks UP, UPP, UPY) is a Class I freight-hauling railroad that operates 8,300 locomotives over 32,200 miles (51,800 km) routes in 23 U.S. states west of Chicago and New Orleans. Union Pacific is the second largest railroad in the United States after BNSF, with which it shares a duopoly on transcontinental freight rail lines in the Western, Midwestern and West South Central United States.
Founded in 1862, the original Union Pacific Rail Road was part of the first transcontinental railroad project, later known as the Overland Route. Over the next century, UP absorbed the Missouri Pacific Railroad, the Western Pacific Railroad, the Missouri–Kansas–Texas Railroad and the Chicago, Rock Island and Pacific Railroad. In 1995, the Union Pacific merged with Chicago and North Western Transportation Company, completing its reach into the Upper Midwest. In 1996, the company merged with Southern Pacific Transportation Company, itself a giant system that was absorbed by the Denver and Rio Grande Western Railroad. The Union Pacific Railroad Company is the principal operating company of Union Pacific Corporation, which are both headquartered at the Union Pacific Center, in Omaha, Nebraska.
Source: Union Pacific, Wikipedia
