Monday, January 23, 2012

UP to put $1 billion into Nebraska infrastructure

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Union Pacific plans to put $1 billion investment in Nebraska over the next several years as part of its capital investment programs.

The $1 billion will be spent on projects across the state, including the following:

• Union Pacific is expanding capacity at its North Platte rail yard, the largest railroad classification yard in the world, with a $70 million investment for better throughput by adding track and technology upgrades.

• About 125 trains a day transport goods through Nebraska on Union Pacific's main line, making it the busiest freight rail transportation corridor in the United States. An investment of approximately $220 million in new rail, ties and other work will increase capacity and fluidity on this busy corridor.

• Between Fremont and Missouri Valley, Union Pacific plans to spend $206 million on new crew change buildings, a bridge over the Elkhorn River, new technology and track. This is a multiple-year project to move trains more efficiently and improve service.

"I'm thrilled at the news of Union Pacific's expansion," said Nebraska's Governor Dave Heineman. "Their extraordinary investment in our state is a great example of how Nebraska is moving forward as a state with one of the lowest foreclosure rates, the second-lowest unemployment rate and a destination for companies looking to expand and create jobs."

"We're proud that Union Pacific has been part of Nebraska for 150 years. Today's announcement of our $1 billion infrastructure investment in the state renews our commitment to helping stimulate business and job growth in Nebraska. Governor Heineman, working with the Unicameral, is committed to providing a business environment that encourages investments in the state, making Nebraska more competitive on national and global scales," said Jim Young, Union Pacific chairman and chief executive officer.

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