SPRING, Texas, May 27, 2015 /PRNewswire/ -- Union Pacific plans to invest $72 million in 2015 to improve Louisiana'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 resurgent American economy.
Union Pacific's planned investment covers a range of initiatives: $67 million to maintain railroad track, $1 million to enhance signal systems and $2 million to maintain or replace bridges in the state. Key projects planned this year include:
- $11 million investment in the rail line between Columbia and Pollock to replace 22 miles of rail and repair the surfaces at 21 road crossings.
- $8 million investment in the rail line between Fordoche and Morrow to replace 22 miles of rail and repair the surfaces at 12 road crossings.
This year's planned $72 million capital expenditure in Louisiana is part of an ongoing investment strategy. From 2010 to 2014 Union Pacific invested more than $568 million strengthening Louisiana'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 Brenda Mainwaring, Union Pacific vice president - Public Affairs, Southern Region. "Continuing to aggressively invest in our infrastructure is an important element in Union Pacific's unwavering safety commitment."
Union Pacific plans to spend $4.2 billion across its network this year, following investments totaling more than $31 billion from 2005-2014. These investments contributed to a 38 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 2005-2014, Union Pacific invested more than $31 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.
SOURCE Union Pacific