BISMARCK, N.D. — Canadian Pacific today announced the investment of $100 million in North Dakota between 2010 to 2012. The investment plan will expand network capacity and enhance rail service in order to meet increased traffic demands.
“North Dakota is a source of growth for CP and the Midwest’s economy with its increased grain production, vast oil deposits in the Bakken Formation and the continued strength of ethanol,” said Jane O’Hagan, Executive Vice-President, Marketing & Sales and Chief Marketing Officer. “CP has been a key part of North Dakota’s economy for the past century. We look forward to providing service to our customers far into the future and know these improvements will help alleviate current concerns, and meet our customers’ future demands for consistent, reliable rail transportation alternatives.”
North Dakota Governor Jack Dalrymple said CP’s announcement is a positive development for the state.
“This is another step forward in our continuing efforts to expand our market access for farmers, for oil production and other industry,” the Governor stated.
Current year infrastructure investment will begin in the spring with a majority of work expected to be completed in Fall 2011. CP’s 2011 North Dakota investment plan includes:
— Hiring over 70 new employees to expand CP’s train crew base in 2011, growing CP’s workforce in North Dakota by 18 percent.
— A new Superintendent of Operations territory focused on traffic between Enderlin and Portal.
— Capacity expansion over the next two years on the Newtown, Portal and Carrington subdivisions including yard track extensions in Max and Flaxton, and installation of a new runaround track in Newtown.
— Increased budget for maintenance work on the Newtown subdivision. The installation of over 17 miles of rail replacement between Drake and Max including upgrades to 41 crossings.
— Strategic installation of snow fence and grading projects to reduce winter snow drifting between Drake and Max.