04:21:55 EDT Sat 18 May 2024
Enter Symbol
or Name
USA
CA



Canadian National Railway Company
Symbol CNR
Shares Issued 651,172,734
Close 2023-10-19 C$ 144.12
Market Cap C$ 93,847,014,424
Recent Sedar Documents

Globe says CN hears VIA HFR aiming to be reliable

2023-10-19 07:32 ET - In the News

The Globe and Mail reports in its Thursday edition that Martin Imbleau, the new CEO of the federal high frequency rail group that is aiming to build 1,000 kilometres of dedicated VIA Rail passenger service between Quebec City and Toronto, is well aware of the problems with large rail projects. The Globe's Bill Curry writes that Mr. Imbleau says his office has a pre-emptive plan to ensure cost and timeline projections prove reliable. By bringing global rail and construction leaders into the detailed planning stages, Mr. Imbleau says the goal is to have potential issues identified early on by the companies that will ultimately build the new lines. He says: "Fundamentally, it's don't go out too soon and provide calendars and cost estimates without having done your homework. You'll make a nice announcement, but you'll regret it." He says the ultimate cost of the multibillion-dollar project needs to be considered with a long-term view. He says, "This is a service for the next generations." VIA HFR operates as an arm's-length subsidiary of VIA Rail and has a dedicated project office. The current rail route that VIA Rail uses is primarily owned by Canadian National Railway, which gives priority to freight traffic.

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