CSX increases 2011 capex 11% to $2 billion
Written by William C. Vantuono, Editor-in-ChiefCSX Corp. announced that it plans to invest $2 billion in capital improvements in 2011, 11% more than the $1.8 billion it spent in 2010.
CSX said approximately two-thirds of the 2011 capital budget will be for improvements in infrastructure and rolling stock, with the remainder split between strategic and regulatory investments.
“This investment will further strengthen our company’s transportation network, enhance our ability to reliably serve America’s freight transportation needs, and create shareholder value in the near- and long-term,” said Chairman, President, and CEO Michael Ward.
