Union Pacific Railroad invests $31M in Wyoming
In line with its aggressive plans for growth to help stave off a double-dip recession, Union Pacific Railroad announced that it will invest over $30 million in a Wyoming freight rail line.
Union Pacific says that it is investing about $31 million in a rail line that runs between Lusk and Shawnee in the Cowboy State.
The 37-mile stretch of rail line will be renovated with the funds, which will go toward installing more than 28 miles of fresh rail and almost 75,000 concrete ties. The millions Union Pacific is planning to invest will also go toward renewing the surfaces at seven road crossings. Crews will also replace three rail switches.
Most of the projects began earlier this month, and are scheduled to be completed in the middle of November.
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Union Pacific, the United States’ largest railroad network with 32,000 miles of track, plans to invest $3.3 billion in capital this year in an effort to improve the nation’s freight rail network. Since 1980, U.S. railroads have invested approximately $480 billion to maintain and modernize the freight rail system, including an estimated $12 billion in 2011, according to the Wyoming Business Report.
An improved freight rail system could do wonders for U.S. trade efficiency and sustainability, as freight trains are about four times more fuel efficient than trucks.
Union Pacific Railroad’s freight routes cover most of the Western United States, which includes privately owned track in 23 U.S. states.