Buffett's Railroad To Spend $3.9B On Upgrades


Salon Staff
February 2, 2012 2:09AM (UTC)

OMAHA, Neb. (AP) — Burlington Northern Santa Fe, the railroad owned by Warren Buffett's Berkshire Hathaway Inc., plans to spend $3.9 billion on network upgrades this year as the economy improves.

The railroad says that its capital spending plan is $400 million bigger than its 2011 budget.

Advertisement:

The nation's major freight railroads, which include BNSF, together plan to spend about $13 billion this year, up from 2011's $12 billion.

BNSF says it will spend $2.1 billion to upgrade its core rail network; $1.1 billion on locomotives, freight cars and other equipment; and about $300 million on developing the federally mandated system to remotely stop trains headed for a collision.

The railroad is based in Fort Worth, Texas. Berkshire Hathaway is based in Omaha, Neb.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •