Courtesy CN Rail

CN Rail has unveiled details of its 2015 plan to invest $2.7 billion in an effort to raise network safety and efficiency, improve service and support future growth.

The company plans to invest $1.4 billion on track infrastructure including the replacement of rail and ties, in addition to bridge improvements and branch-line upgrades.

"CN is investing in a safe, efficient railway that is building on a strong foundation as well as building for the future in this the 20th anniversary year of our initial public offering of shares," said Claude Mongeau, president and chief executive officer. "We are proud of our achievements and our record of investing significant capital in the business to ensure a sustainable enterprise for many years to come."

CN is also setting aside $100 million to upgrade its feeder network, which is part of the $500 million program announced earlier this year to upgrade branch lines that are experiencing rising volumes of traffic.

Eight-hundred million dollars will go towards growth and productivity initiatives such as yard improvements, intermodal terminals, transload and distribution centres and information technology.

The company is also expecting to take delivery of 90 new high-horsepower locomotives.