NY-NJ Port Authority earmarks $361 million for seaport projects
The Port Authority of New York and New Jersey have earmarked US$345.9 million of funding for port related projects in 2012, and a further $15.2 million for the raising of the Bayonne Bridge, Porttechnology reports.
The funds are part of the Authority’s initial budget of $3.66 billion for capital spending on areas under the agency’s scope including the upgrade of airports, bridges, tunnels and the redevelopment of the World Trade Center.
The development of the Global Terminal on the Port Jersey Peninsula located in Bayonne and Jersey City will be allocated the largest chunk of seaport funds, with funds of $87.4 million being made available. The funds will also be used in the upgrade of intermodal services at the terminal, according to the JOC.
The development of a rail ramp at the Greenville Yards, attained by the Authority last year, will be the second-largest capital project, with $58.3 million being allocated.
Further projects include the upgrade of the New York Container Terminal on Staten Island, which will receive $36.3 million, and the restoration of the Brooklyn Marine Terminal and improvement of infrastructure Brooklyn’s Red Hook Terminal.
The funds are part of the Authority’s initial budget of $3.66 billion for capital spending on areas under the agency’s scope including the upgrade of airports, bridges, tunnels and the redevelopment of the World Trade Center.
The development of the Global Terminal on the Port Jersey Peninsula located in Bayonne and Jersey City will be allocated the largest chunk of seaport funds, with funds of $87.4 million being made available. The funds will also be used in the upgrade of intermodal services at the terminal, according to the JOC.
The development of a rail ramp at the Greenville Yards, attained by the Authority last year, will be the second-largest capital project, with $58.3 million being allocated.
Further projects include the upgrade of the New York Container Terminal on Staten Island, which will receive $36.3 million, and the restoration of the Brooklyn Marine Terminal and improvement of infrastructure Brooklyn’s Red Hook Terminal.