April 18, 2018 / 7:40 PM / in 8 months

CN Rail buys 350 boxcars to satisfy North America demand

FILE PHOTO: Locomotives move through the Canadian National (CN) railyards in Edmonton February 22, 2015. REUTERS/Dan Riedlhuber/File Photo

(Reuters) - Canadian National Railway Co will buy 350 boxcars to satisfy rising demand for transporting commodities across North America, the country’s biggest freight railroad operator said on Wednesday.

The move comes as CN loses market share to rival Canadian Pacific Railway, and is part of its C$3.2 billion ($2.5 billion) capital program.

The boxcars are expected to be delivered by late summer and will be in service by the end of the year.

Reporting by Ahmed Farhatha in Bengaluru; Editing by Sai Sachin Ravikumar

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