The U.S. railroad company Union Pacific Corporation released its capital plan and safety targets for 2024.
For the current year, the company expects its capital plan to be approximately US$3.4 billion, 8% less than in 2023.
Union Pacific plans to continue making investments to support its growth strategy, strengthen its infrastructure, replace older assets, and improve network security and resiliency.
In addition, the plan includes investments in growth-related projects to drive more railcarloads onto the network, certain ramps to efficiently handle new and existing intermodal customer volumes, continued modernization of its locomotive fleet, and projects aimed at improving operational efficiency.
The capital plan may be revised if business conditions warrant or if new laws or regulations affect our ability to generate sufficient returns on these investments.
The company is primarily engaged in freight rail transportation, moving a wide variety of goods, including agricultural products, energy, automobiles, industrial products and intermodal containers.
Union Pacific
The company plans to improve the safety culture through its Courage to Care program.
Courage to Care is reflected in actions such as giving and receiving feedback on unsafe behaviors, finding and eliminating hazards, and improving the safety of the work environment, so that everyone goes home safe.
By 2024, an enhanced safety management program focused on the critical rules that impact safety the most will be implemented for all employees.
In addition, train, engine and yard employees are expected to attend a full-day safety training class to reinforce these critical rules.
Union Pacific will continue to utilize a comprehensive approach to safety management using technology, hazard identification and risk assessments, employee engagement, training, quality control and targeted capital investments.
In addition, its Operating Practices Command Center will help position the company to implement predictive technology to reduce variability by seeking to identify the causes of mainline service disruptions and develop solutions, as well as help employees understand best practices for train management.