Union Pacific Railroad is investing $400 million to build a new rail facility near Santa Teresa, New Mexico. The announcement comes after New Mexico Governor Susana Martinez signed a law giving UP a locomotive fuel tax deduction.
"Our strategic investment in this new facility helps improve capacity and enhance efficiency on a key part of our network, while also demonstrating our long-term commitment to deliver premium service to our customers," said Jim Young, Union Pacific chairman and CEO. "Investments of this kind are guided by our mission to serve and are leading to new business and record levels of safety and customer satisfaction."
UP will create 600 jobs when the facility reaches full capacity in 2025. It will begin building at the site this year, with construction continuing through 2015.
The facility will encompass fueling facilities, crew change buildings, an intermodal yard, and an intermodal ramp. The project is part of UP's strategy to provide safe and efficient rail service across its 32,000-mile network.