Canadian Pacific bumps up 2013 capital spending plan

Canadian Pacific Railway Ltd. is bumping up this year’s capital spending program as it projects higher-than-expected cash flow.

Between $75-million and $100-million will be added to the railway’s $1.1-billion 2013 budget as some projects that had been planned for 2014 will be moved forward.

The increased spending will go towards upgrading track between Winnipeg and Edmonton, improving signalling systems between Moose Jaw, Sask., and Chicago and buying assets that would otherwise be leased.

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Source : theglobeandmail

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