Union Pacific said it plans to invest $3.4 billion in 2024 to support safe operations, renew assets and grow with customers.
That’s equivalent to spending more than $9 million daily to make the railroad safer and generate economic and supply chain activity across its 23-state footprint, boosting local, regional, and national economies.
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.
“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.”
Company officials also said they are investing in capacity and technology projects across our network, such as siding extensions, to increase capacity, improve productivity and operational efficiency.
