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Norfolk Southern to invest $2B in rail network, including Charlotte hub

Norfolk Southern Train
 

Norfolk Southern Co. says it will invest $2 billion in 2013 for improvements to its rail-transportation network, including the the intermodal terminal being constructed at Charlotte Douglas International Airport.

"Our capital plan will maintain the safety and quality of our existing franchise, improve service quality and performance, achieve operational efficiencies and productivity improvements, and support business growth," Chief Executive Wick Moorman says in a news release issued by Norfolk Southern (NYSE:NSC) on Monday.

Topping the company's list is $831 million for roadway improvements, then $420 million for equipment. A total of $203 million has been set aside for facilities and terminals -- one being the Charlotte freight hub scheduled to open later this year.

Jen Wilson 
Associate Editor/Online-Charlotte Business Journal
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Source: Charlotte Business Journal 01-29-2013

Photo source: Norfolk Southern

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