Monday, January 30, 2012

Freight railroads to hire 15,000, spend an expected $13 billion in capex

Written by 

The Association of American Railroads said the nation's major freight railroads are projected to invest a record $13 billion in capital expenditures in 2012 to expand, upgrade and enhance the nation's freight rail network. The freight railroads also expect to hire more than 15,000 employees this year, replacing retiring workers and adding new positions nationwide.

"Unlike trucks, barges or airlines, America's freight railroads operate on infrastructure they own, build and maintain themselves so taxpayers don't have to. And this year they are investing at a record rate to meet the demands of the recovering economy," said Edward Hamberger, AAR president and CEO. "These investments help businesses get their goods to market more efficiently and affordably, so they too can innovate, invest and hire. That's how freight rail spurs the American economy and supports jobs all across the country."

With hundreds of infrastructure projects underway nationwide, privately owned freight rail networks are maintained through continued investments that have reached record levels in the past three years. These investments include expenditures such as intermodal terminals that facilitate truck to train freight transport; new track, bridges and tunnels; modernized safety equipment; new locomotives and rail cars and other components that ensure the U.S. freight rail network remains the best in the world.

to market more efficiently and affordably, so they too can innovate, invest and hire. That's how freight rail spurs the American economy and supports jobs all across the country."

With hundreds of infrastructure projects underway nationwide, privately owned freight rail networks are maintained through continued investments that have reached record levels in the past three years. These investments include expenditures such as intermodal terminals that facilitate truck to train freight transport; new track, bridges and tunnels; modernized safety equipment; new locomotives and rail cars and other components that ensure the U.S. freight rail network remains the best in the world.

blog comments powered by Disqus