From Union Pacific:
Union Pacific Plans to Invest $37.5 Million in its Iowa Rail Infrastructure
OMAHA, NEBRASKA, MAY 27, 2016
Union Pacific plans to invest $37.5 million in 2016 to improve Iowa's transportation infrastructure. The company's multi-million dollar private investment will enhance employee, community and customer safety and increase rail operating efficiency. Freight railroads like Union Pacific operate on track built and maintained without taxpayer funds. Union Pacific's private investments sustain jobs and ensure the company meets growing demand for products used in the American economy.
Union Pacific's planned investment covers a range of initiatives: $30.7 million to maintain railroad track and $6.7 million to maintain bridges in the state. Key projects planned this year include:
- A $5 million investment between Nevada and Boone to undercutting 30 miles of track. In this process, an undercutter machine cleans rock ballast to remove mud and debris and facilitate proper drainage.
- A $5 million investment in the rail line between Mechanicsville and Blairstown through south Cedar Rapids to replace nearly 38,000 railroad ties.
- A $4.1 million investment in the rail line between Ogden and Carroll to replace more than 22,000 railroad ties.
This year's planned $37.5 million capital expenditure in Iowa is part of an ongoing investment strategy. From 2011 to 2015 Union Pacific invested more than $184 million strengthening Iowa's transportation infrastructure.
"We constantly evaluate our customers' needs to make targeted investments that enhance our efficiency and deliver the goods American businesses and families use daily," said Donna Kush, Union Pacific vice president - Public Affairs, Northern Region. "Continuing to aggressively invest in our infrastructure is an important element in Union Pacific's unwavering safety commitment."
Union Pacific plans to spend $3.675 billion across its network this year, following investments totaling approximately $33 billion from 2006-2015. These investments contributed to a 25 percent decrease in derailments over the last 10 years.
ABOUT UNION PACIFIC
Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2006-2015, Union Pacific invested approximately $33 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.
