MONTREAL, QUEBEC, CANADA — CN is planning to acquire 1,500 new generation, high-capacity grain hopper cars. Delivery with the new hopper cars will begin January 2021.
“This investment, combined with our 2020 C$2.9 billion capital investment program, will help us move more grain,” said JJ Ruest, president and chief executive officer of CN. “We are confident in the future of the grain business and its key role in CN’s long-term growth. By investing in the construction of these new cars, we want to help quickly stimulate the North American economy by supporting manufacturing and agriculture related jobs.”
CN also believes the addition to its rail fleet will better support the grain industry and the company’s growing grain transportation movement.
“CN’s Canadian grain movements continue to break records, month after month, and these new higher-capacity hopper cars will help perpetuate our growth in this key sector of the North American economy,” said James Cairns, senior vice of president of rail centric supply chain for CN. “By purchasing new hopper cars for the second time in two years, we are continuing to deliver on our commitment to grain farmers, grain customers and the overall supply chain to expand our collective capacity through fleet renewal. Through this investment, we will be able to support and expand our movements of grain to international markets as demand continues to increase.”
In early July, CN announced it had achieved another monthly record, moving 2.7 million tonnes of Canadian grain in June. In the first half of 2020 through June 30, CN moved 15 million tonnes. This also represents a new all-time best quarter for CN with 8.15 million tonnes moved.