Fort Worth-based BNSF Railway Co. is moving forward with two massive rail complexes, including one in the Phoenix metro, following its announcement to invest $3.96 billion in 2023.
According to a news release, the largest component of the company's capital plan is $2.85 billion, which will be invested in BNSF's maintenance projects, including replacing and upgrading rail, track infrastructure, and rolling stock. The capital investment also breaks down $402 million into equipment acquisitions and over $700 million for expansions and efficiency projects.
"Our capital plan reflects our growth mindset and commitment to having the capacity and equipment we need to support our customers.
BNSF said the new industrial center will comprise 30 million square feet of space in addition to an intermodal facility, where cargo is transferred between trains and trucks. It also estimated the facility could produce 11,500 construction jobs and will be designed similar to the Logistics Park Kansas City, a 3,000-acre industrial and rail center that BNSF said has produced thousands of jobs.
The freight giant said in October that it has neared capacity at its Phoenix intermodal and railcar facilities and is looking to expand at the Wittmann site to support the region's fast-growing population. This has sparked fears for rural communities in the area due to the thousands of homes proposed to support facilities like this and a recent report
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: phxbizjournal - 🏆 254. / 63 Read more »
Source: azcentral - 🏆 585. / 51 Read more »
Source: phxbizjournal - 🏆 254. / 63 Read more »