BNSF increases capital spending plans
FORT WORTH, Texas (AP) — BNSF Railway Co. said Friday that it is increasing its investment in equipment, expansion and efficiency projects in 2013.
The freight railroad said that it plans to spend about $4.1 billion on capital projects for the year, up $450 million from its 2012 capital expenditures.
The biggest part is a $2.3 billion commitment to improve its core network. BNSF will spend approximately $1 billion on locomotive, freight car and other equipment acquisitions.
The company also said its expansion and efficiency projects will focus on accommodating growth in the oil-rich Bakken Shale region of North Dakota and growing demand for industrial products. That includes the completion of BNSF's Kansas City Intermodal Facility, and other terminal improvements to enhance productivity.
The Fort Worth, Texas-based company operates 32,500 route miles in 28 states and two Canadian provinces. It is the primary subsidiary of Burlington Northern Santa FE, which is owned by Warren Buffett's firm Berkshire Hathaway.