OMAHA,
Neb., Feb. 21, 2024 /PRNewswire/ -- Union
Pacific plans to invest $3.4 billion
in 2024 to support safe operations, renew assets and grow with
customers. That's the equivalent of spending more than $9 million every day to make the railroad safer
and generate economic and supply chain activity across its 23-state
footprint, boosting local, regional and the national economy.
An estimated 56% of the capital plan, or $1.9 billion will go toward upgrading and
replacing infrastructure, such as rail, ties, and ballasts, along
with $0.6 billion toward locomotives
and equipment.
"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."
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.
In addition, we are investing in capacity and technology
projects across our network, such as siding extensions, to increase
capacity, improve productivity and operational efficiency.
The railroad also will continue to expand its intermodal
footprint, supporting business development in targeted, high growth
areas, such as Southern
California, Phoenix, and
Kansas City.
ABOUT UNION PACIFIC
Union Pacific (NYSE: UNP) delivers
the goods families and businesses use every day with safe, reliable
and efficient service. Operating in 23 western states, the company
connects its customers and communities to the global economy.
Trains are the most environmentally responsible way to move
freight, helping Union Pacific protect future generations. More
information about Union Pacific is available at www.up.com.
www.up.com
www.facebook.com/unionpacific
www.twitter.com/unionpacific
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SOURCE Union Pacific Railroad