CN announced Wednesday it plans to spend $1.7 billion to maintain its railway network and grow its business including in western Canada.
The company could not say yet, however, if any of those investments would be targeted to Northern B.C. where another gateway between North America and Asia is emerging.
CN spokesman Mark Hallman said from Montreal headquarters the company doesn't have that kind of detail yet.
CN said it will spend about $1 billion on track infrastructure, and $200 million on equipment, including fuel-efficient locomotives and rail cars.
Another $500 million will be spent to grow its business, including at trans-loading and distribution centres.
"In the last five years, CN spent almost $8 billion on capital improvements," said CN president and CEO Claude Mongeau. "Such investments serve to build a quality network that, in turn, supports economic growth across Canada and the United States."
CN became the only rail carrier in Northern B.C. in 2003 when the B.C. Liberal government sold B.C. Rail for $1 billion under a long-term lease.
Many commodities -- including coal, pulp and lumber -- are delivered by CN Rail to markets in the United States, but also to ports, including Prince Rupert in Northern B.C., for export to overseas Asian markets.
Prince George is a hub for CN as the nexus of north-south and west-east rail lines.
CN built a $20-million container-handling facility in Prince George that opened in 2007. It was part of a transportation corridor in Northern B.C. that includes a $170-million container-handling terminal at Prince Rupert.
Recently, business at CN's container-handling facility has ramped up in Prince George, particularly as lumber shipments from Northern B.C. have increased to China.
Initiatives Prince George, the city's economic development agency, recently hosted a forum to make local shippers aware of the opportunities to access containers.
Initiatives Prince George official Kathie Scouten said she had no details on where CN was planning to invest the $1.7 billion announced Wednesday.
But she said IPG does want to see CN continue investing in Northern B.C. to increase the capacity for shipping lumber and other exports.
