CSX plans to invest approximately $2.3 billion in its business in 2013 supporting initiatives to help meet long-term demand for freight rail, improve customer service and further the company's plans for long-term profitable growth.
“The continued strong investment in CSX is a clear reflection of our desire to bring lasting transportation solutions to our customers, as well as to enable the inevitable movement of even more freight to rails,” said Michael Ward, president, chairman and chief executive officer.
Ward noted that overall growth, excluding coal, should be at a rate above the general economy in 2013.
Many of the investments are related to long-term initiatives that give customers greater access to an increasingly interconnected global transportation network. This includes the company’s National Gateway initiative creating double-stack intermodal train access between the Mid-Atlantic ports and the Midwest. The investments are also expected to include $325 million associated with the implementation of Positive Train Control.