NEW YORK, Feb 7 (Reuters) - BNSF Railway Co [BNISF.UL], a Berkshire Hathaway company, plans to spend $3.5 billion this year mainly on its core network and assets.
The company said it plans to spend $2 billion of the total on the railway’s core network and related assets, $450 million to buy 227 locomotives and about $350 million on freight car and other equipment acquisitions.
The spending program includes about $300 million for federally mandated positive train control (PTC) and $300 million for terminal, line and intermodal expansion and efficiency projects.
“BNSF expects to invest approximately $3.5 billion in 2011 to ensure our infrastructure remains strong and to improve the efficiency of our operations,” Matthew K. Rose, BNSF chairman and chief executive officer, said in a statement on Monday.
BNSF Railway, purchased in 2009 by billionaire investor Warren Buffett’s Berkshire Hathaway, operates 32,000 route miles of track in 28 states and two Canadian provinces. (Reporting by Lynn Adler; editing by Carol Bishopric)