CAI International has entered into an agreement to purchase 2,000 newly built railcars over a three year period, beginning during the second quarter of 2016.

The equipment purchased includes freight and tank cars, though the majority of the order will be for freight cars. The level of commitment over the three year period will be dependent on the specific type and quantity of railcars purchased, but the total investment under the equipment order is expected to be in excess of $200 million.

“CAI is currently taking delivery of the 920 railcars that it had previously ordered for 2015, all of which are on long term leases. This new order of equipment provides CAI with the opportunity to serve our growing rail customer base with a diversified fleet,” Victor Garcia, CEO of CAI, said.

According to Garcia, the delivery of railcars will be spread over several quarters and will be part of CAI’s plans to expand both in terms of customer base and asset diversification.

CAI is a transportation finance and logistics company.