CN Rail has announced plans to buy another 1,500 new generation, high-capacity, grain hopper cars.
Delivery of the new cars in January 2021 is expected to encourage economic recovery and help CN meet the growing needs of the grain sector.
JJ Ruest, President and Chief Executive Officer for CN says this investment, combined with their 2020 $2.9 Billion capital investment program, will help them move more grain.
"We are confident in the future of the grain business and its key role in CN’s long-term growth. By investing in the construction of these new cars, we want to help quickly stimulate the North American economy by supporting manufacturing and agriculture-related jobs."
This is the second time in two years that CN has purchased new hopper cars in an effort to expand its collective capacity through fleet renewal.