US freight railroads plan to spend $12B on network
by
Story Created:
Mar 9, 2011 at 4:21 PM CDT
Story Updated:
Mar 9, 2011 at 4:21 PM CDT
OMAHA, Neb. (AP) _ America's major freight railroads plan to
invest $12 billion in their networks in 2011.
The American Association of Railroads released a report
Wednesday about the economic impact of the freight railroads,
including BNSF, CSX, Norfolk Southern and Union Pacific.
Association President Ed Hamberger says this year's capital
spending should will top the record $10.7 billion capital
investment railroads made last year.
But Hamberger says the railroads would likely scale back their
spending plans if Congress significantly changes the regulations
that determine what rates railroads can charge.
He says railroads would also be hurt if Congress restricts the
use of coal because of environmental concerns.
(Copyright 2011 by The Associated Press. All Rights Reserved.)
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