Union Pacific Corp. signed an agreement with the U.S. Customs and Border Protection or CBP that formalizes and enhances their collaborative relationship to help secure the U.S. border against contraband and other security risks and to improve the flow of goods.

Union Pacific said that it will invest $50 million to enhance efforts to help secure the U.S. - Mexico border and improve supply chain security. The funds will be allocated towards technology, infrastructure, and personnel enhancements that CBP and Union Pacific will define in coming months.

The company stated that the investments will include enhanced technologies such as intelligent video scanning and developing technologies such as global positioning systems or GPS and radio frequency identification or RFID tracking of rail movements.

A working team will form a "Fusion Center" where CBP, Union Pacific, and other stakeholders will interact for communication, sharing of intelligence, analysis, and coordination, the company said.