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Canadian National Railway Company
Symbol CNR
Shares Issued 614,433,951
Close 2026-01-14 C$ 135.58
Market Cap C$ 83,304,955,077
Recent Sedar+ Documents

Globe say CN, CPKC hear Alto may be a budget bomb

2026-01-15 07:53 ET - In the News

Also In the News (C-CP) Canadian Pacific Kansas City Ltd

The Globe and Mail reports in its Thursday edition that despite lacking any track laid, the Alto high-speed rail project is heading toward a significant financial reckoning. The Globe's guest columnist Jerome Gessaroli writes that the Alto project is estimated to cost between $60-billion and $90-billion. Even minor planning errors could lead to significant public costs. Ottawa's proposal to speed up construction by four years risks locking in financial and political commitments before finalizing routes, station locations and land requirements. There is nothing wrong with Canada pursuing large projects for long-term value, as ambitious infrastructure can support economic growth and national unity. However, concerns arise when initiatives are promoted with buzzwords like "game-changer" or "generational investment" before their costs, scope and risks are fully understood. That framing creates political momentum that limits scrutiny and makes it difficult to reassess assumptions with new evidence, often leading to higher taxpayer costs and fewer benefits for future users. Alto is moving forward despite key unanswered questions about the route, station locations, entry into major cities and necessary land acquisition.

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