Union Pacific Plans to Invest $26.8 Million in its Nevada Rail Infrastructure
Roseville, Calif., April 19, 2017
Union Pacific is boosting safety and efficiency with an approximately $26.8 million infrastructure investment in Nevada this year. Projects funded by Union Pacific benefit Nevada's overall transportation infrastructure without taxpayer funds.
Union Pacific's investment plan funds a range of initiatives: $22.7 million to maintain railroad track and $1.8 million to maintain bridges in the state. Key projects planned this year include:
- $7.5 million investment in the rail line between Elko and Winnemucca to replace 60,854 railroad ties during a tie replacement project.
- $2.2 million investment in the rail line between Floriston, California and Sparks, Nevada, to replace 15,406 railroad ties during a tie replacement project.
- $2.1 million investment in the rail line between Verdi and Reno to replace 12,190 railroad ties during a tie replacement project.
"Union Pacific's targeted investments fund projects that strengthen our railroad tracks, increase safety and minimize delays as trains travel through communities across Nevada," said Wes Lujan, Union Pacific vice president – Public Affairs, Western Region. "Maintaining a healthy railroad is the foundation of our ability to serve customers and communities across the state."
This year's planned $26.8 million capital expenditure in Nevada is part of an ongoing investment strategy. From 2012 to 2016, Union Pacific invested more than $244 million strengthening Nevada's transportation infrastructure.
Union Pacific plans to spend $3.1 billion across its network this year. The company has invested $51 billion since 2000, contributing to a 40 percent decrease in derailments during the same time frame.
ABOUT UNION PACIFIC
Union Pacific Railroad is the principal operating company of Union Pacific Corporation (NYSE: UNP). One of America's most recognized companies, Union Pacific Railroad connects 23 states in the western two-thirds of the country by rail, providing a critical link in the global supply chain. From 2007-2016, Union Pacific invested approximately $34 billion in its network and operations to support America's transportation infrastructure. The railroad's diversified business mix includes Agricultural Products, Automotive, Chemicals, Coal, Industrial Products and Intermodal. Union Pacific serves many of the fastest-growing U.S. population centers, operates from all major West Coast and Gulf Coast ports to eastern gateways, connects with Canada's rail systems and is the only railroad serving all six major Mexico gateways. Union Pacific provides value to its roughly 10,000 customers by delivering products in a safe, reliable, fuel-efficient and environmentally responsible manner.
The statements and information contained in the news releases provided by Union Pacific speak only as of the date issued. Such information by its nature may become outdated, and investors should not assume that the statements and information contained in Union Pacific's news releases remain current after the date issued. Union Pacific makes no commitment, and disclaims any duty, to update any of this information.
Justin E. Jacobs