The funding has been allocated for technology, capacity, and rolling stock units besides company-wide decarbonisation initiatives and network enhancements.
In Michigan, the funds will be used for the replacement of over 6.43km and the installation of around 50,000 new railroad ties.
The investment will also help undertake maintenance work on bridges, culverts, signal systems, and other track infrastructure, in addition to rebuilding 19 road crossing surfaces in the state.
In Iowa, the funds will be used to replace more than 22.5km of rail and install around 9,000 new railroad ties.
Besides, it will support maintenance work on bridges, culverts, signal systems, and other track infrastructure, as well as rebuild 14 road crossing surfaces.
CN corporate services executive vice president and chief legal officer Sean Finn said: “We continue to make significant investments in our network, technology, and capacity.
“We are building the premier railroad of the 21st century to do even more for our customers, railroaders, shareholders, and the communities in which we operate.”
Recently, CN announced an investment of nearly C$365m ($281m) and C$430m ($331m) in Alberta and Ontario, respectively, for 2022.
The funding will help replace 72.4km of rail in Alberta and 69.2km in Ontario.