The Port Authority of New York and New Jersey in 2012 plans to spend $345.9 million on seaport projects and another $15.2 million on work related to the planned elevation of the Bayonne Bridge, The Journal of Commerce Online reports.
The capital budget is part of the agency’s preliminary $3.66 billion budget for capital spending on all projects next year, including bridges, tunnels, airports and the World Trade Center. The authority’s preliminary budget for all spending totals $7 billion, which it said keeps operating expenses “virtually flat and maintains headcount at the lowest level in 40 years."
The agency allocates the largest amount of spending, $87.4 million, on development of the Global Terminal on the Port Jersey Peninsula in Bayonne and Jersey City. The money will also be used to improve intermodal rail and roads to 98-acre terminal.
The second-largest capital project involves spending of $58.3 million on the development of a rail ramp at the Greenville Yards, which the authority acquired in 2010.
The budget allocates $36.3 million for capital projects at the New York Container Terminal on Staten Island, including $29 million on dredging. The agency plans to spend $12.4 million on the revival of the Brooklyn Marine Terminal in Sunset Park in Brooklyn and $198,000 on infrastructure at Brooklyn’s Red Hook Terminal.
The capital budget is part of the agency’s preliminary $3.66 billion budget for capital spending on all projects next year, including bridges, tunnels, airports and the World Trade Center. The authority’s preliminary budget for all spending totals $7 billion, which it said keeps operating expenses “virtually flat and maintains headcount at the lowest level in 40 years."
The agency allocates the largest amount of spending, $87.4 million, on development of the Global Terminal on the Port Jersey Peninsula in Bayonne and Jersey City. The money will also be used to improve intermodal rail and roads to 98-acre terminal.
The second-largest capital project involves spending of $58.3 million on the development of a rail ramp at the Greenville Yards, which the authority acquired in 2010.
The budget allocates $36.3 million for capital projects at the New York Container Terminal on Staten Island, including $29 million on dredging. The agency plans to spend $12.4 million on the revival of the Brooklyn Marine Terminal in Sunset Park in Brooklyn and $198,000 on infrastructure at Brooklyn’s Red Hook Terminal.