Feb 21 (Reuters) - Union Pacific said on Wednesday it plans to invest $3.4 billion this year to support safer operations, renew assets and grow with customers.

Union Pacific will continue to modernize the locomotive fleet, upgrading older core units. The plan also includes targeted freight car acquisitions to support replacement and growth opportunities, the rail operator said. (Reporting by Kannaki Deka in Bengaluru; Editing by Pooja Desai)