04:39 PM EST, 12/17/2024 (MT Newswires) -- Canadian Pacific Kansas City ( CP ) said Tuesday afternoon it completed construction of a new international railway bridge over the Rio Grande, connecting Laredo, Texas, to Nuevo Laredo, Tamaulipas.

The project, started by Kansas City Southern (KCS) in late 2022, is designed to support growing trade between the United States and Mexico. The US$100 million project increases the capacity of the key trade corridor between the two countries, the company said.

"Completion of this internationally important project more than doubles our capacity to move freight through the border at the largest international trade port of entry in North America," Chief Executive Keith Creel said.

The railway's shares closed down $0.50 to $105.19 on the Toronto Stock Exchange.