Northfolk Southern Corp. plans to spend $103 million in 2006 on business development initiatives that include adding capacity to its intermodal network, as well as more capacity for coal receivers, bulk transfer facilities and vehicle production and distribution facilities. The rail corporation has earmarked a $1.15 billion capital spending budget for 2006.
“Continuing strong demand for rail transportation is driving the need for additional investment in our rail network,” said CEO Wick Moorman. “Our 2006 capital program ensures that our network and assets continue to be well maintained while and also providing for increased capacity in terms of infrastructure.”
For more information, go to www.nscorp.com.