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NORFOLK SOUTHERN ANNOUNCES 1994 CAPITAL BUDGET

 NORFOLK, Va., Dec. 9 /PRNewswire/ -- Norfolk Southern Corporation (NYSE: NSC) has authorized new spending of $632 million on capital improvements, David R. Goode, chairman, president and chief executive officer, announced today. Excluding newly authorized spending not expected to occur until after 1994 and including spending on projects carried over from 1993, total spending for capital improvements in 1994 is expected to be approximately $634 million, versus the 1993 budget of $747 million.
 "The lower level of capital spending in 1994 is a product of the intense focus we are placing on making the wisest, most efficient use of our assets," Goode said. "It also reflects the significantly reduced capital needs of our North American Van Lines subsidiary following its restructuring."
 Of the $632 million in capital expenditure authority, $214 million is budgeted for the railway's rail, crosstie, and ballast programs. Other major projects include five new or expanded intermodal facilities and four new bulk distribution facilities.
 The new budget includes authority of $82.8 million to acquire locomotives and $34.2 million for freight cars, including 326 rapid discharge coal cars and 250 multi-level racks for motor vehicle traffic. New authority of $82.3 million has been budgeted for freight car improvements, including $46.3 million to rebody 2,750 coal cars.
 -0- 12/9/93
 /CONTACT: Robin C. Chapman (Norfolk), 804-629-2713, Robert M. Auman (Roanoke), 703-981-5426, or Richard W. Harris (Atlanta), 404-529-2193, all of Norfolk Southern/
 (NSC)


CO: Norfolk Southern Corporation ST: Virginia IN: TRN SU:

CM -- CH003 -- 2102 12/09/93 09:28 EST
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Publication:PR Newswire
Date:Dec 9, 1993
Words:256
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