It’s reported that the Port Authority of New York and New Jersey issued a USD 32bn draft capital plan with USD 2.7bn set aside for the Gateway Tunnel program at the beginning of Jan, 2017.
The agency calls the 10-year plan unprecedented, and will release it for public review in the upcoming days.
“This region needs new and upgraded transportation infrastructure to deal with regional growth”, said Port Authority executive director Pat Foye, “This ambitious plan proposes to invest billions to maintain the agency’s world-class bridges, tunnels, airports, seaport and PATH system in a state of good repair while continuing to rebuild and expand existing facilities and build new ones to meet the region’s growth.”
The Gateway program is a series of rail infrastructure improvements, including a new, two-track Hudson River tunnel. The USD 2.7bn will go toward the payment of debt service for the Trans-Hudson rail tunnel link between New York and New Jersey. That includes an already approved USD 302M toward debt service on the Gateway Development Program’s Portal Bridge North project.
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