CN welcomes federal infrastructure investment in Vancouver supporting trade with Asia, Canadian economy
22 Giugno 2018 - 10:55PM
CN (TSX:CNR) (NYSE:CNI) said today the federal government’s support
of infrastructure investments in Vancouver through the National
Trade Corridors Fund (NTCF) will help the long-term expansion of
trade between Canada and Asia.
“We applaud the Government of Canada’s actions
to expand Canada’s key trade corridors and make them more reliable.
We welcome this investment in trade-enabling infrastructure,” said
JJ Ruest, interim president and chief executive officer at CN.
“These investments signal Canada’s commitment to trade with Asian
economies.”
NTCF will provide funding to infrastructure
investments boosting capacity along the rail corridor across the
Second Narrows railway bridge linking transportation networks to
growing grain, potash, coal and forest products export terminals on
Vancouver’s North Shore.
The government also announced funding to expand
capacity on the railway line that serves as CN’s primary access to
DP World’s Centerm and Global Container Terminals’ Vanterm, two
expanding intermodal terminals on Vancouver’s South Shore. Centerm
is moving forward with plans to increase capacity by
two-thirds.
“Increasing export and import opportunities for
Canadian businesses means more capacity is needed to reliably move
products to and from this expanding gateway,” Ruest said.
“Collaborative investments in supply chain infrastructure,
including by railways, ports and terminal operators, improve our
trading partnerships linking Asian markets to Canadian consumers
and producers.”
Earlier this month CN announced its plans to
invest approximately $340 million across British Columbia in 2018
to expand and strengthen the Company’s rail network throughout the
province.
Forward-Looking Statements
Certain statements included in this news release constitute
“forward-looking statements” within the meaning of the United
States Private Securities Litigation Reform Act of 1995 and under
Canadian securities laws. By their nature, forward-looking
statements involve risks, uncertainties and assumptions. The
Company cautions that its assumptions may not materialize and that
current economic conditions render such assumptions, although
reasonable at the time they were made, subject to greater
uncertainty. Forward-looking statements may be identified by the
use of terminology such as “believes,” “expects,” anticipates,”
“assumes,” “outlook,” “plans,” “targets,” or other similar
words.
Forward-looking statements are not guarantees of
future performance and involve known and unknown risks,
uncertainties and other factors which may cause the actual results
or performance of the Company to be materially different from the
outlook or any future results or performance implied by such
statements. Accordingly, readers are advised not to place undue
reliance on forward-looking statements. Important risk factors that
could affect the forward-looking statements include, but are not
limited to, the effects of general economic and business
conditions; industry competition; inflation, currency and interest
rate fluctuations; changes in fuel prices; legislative and/or
regulatory developments; compliance with environmental laws and
regulations; actions by regulators; security threats; reliance on
technology; transportation of hazardous materials; various events
which could disrupt operations, including natural events such as
severe weather, droughts, floods and earthquakes; effects of
climate change; labor negotiations and
disruptions; environmental claims; uncertainties of
investigations, proceedings or other types of claims and
litigation; risks and liabilities arising from derailments; and
other risks detailed from time to time in reports filed by CN with
securities regulators in Canada and the United States. Reference
should be made to Management’s Discussion and Analysis (MD&A)
in CN’s annual and interim reports, Annual Information Form and
Form 40-F, filed with Canadian and U.S. securities regulators and
available on CN’s website, for a description of major risk
factors.
Forward-looking statements reflect information
as of the date on which they are made. CN assumes no obligation to
update or revise forward-looking statements to reflect future
events, changes in circumstances, or changes in beliefs, unless
required by applicable securities laws. In the event CN does update
any forward-looking statement, no inference should be made that CN
will make additional updates with respect to that statement,
related matters, or any other forward-looking statement.
CN is a true backbone of the economy whose team
of approximately 25,000 railroaders transports more than C$250
billion worth of goods annually for a wide range of business
sectors, ranging from resource products to manufactured products to
consumer goods, across a rail network of approximately 20,000
route-miles spanning Canada and mid-America. CN – Canadian National
Railway Company, along with its operating railway subsidiaries –
serves the cities and ports of Vancouver, Prince Rupert, B.C.,
Montreal, Halifax, New Orleans, and Mobile, Ala., and the
metropolitan areas of Toronto, Edmonton, Winnipeg, Calgary,
Chicago, Memphis, Detroit, Duluth, Minn./Superior, Wis., and
Jackson, Miss., with connections to all points in North America.
For more information about CN, visit the Company’s website at
www.cn.ca.
Contacts: |
Media |
Investment
Community |
Patrick Waldron |
Paul Butcher |
Senior Manager |
Vice-President |
CN Media Relations |
CN Investor
Relations |
(514) 399-8803 |
(514) 399-0052 |
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