NY/NJ PORT AUTHORITY ANNOUNCE TENYEAR INFRASTRUCTURE IMPROVEMENT PLAN

Following the completion of a major deepening project at the Port of New York & New Jersey the port authority approved its largest ever $32.2 billion ten-year capital improvement plan to rebuild the region’s other aging infrastructure leveraging private sector dollars including the largest transportation public-private partnership in the U.S.

The project focuses on the redevelopment of airports tunnels bridges bus termianls rail stations. The port authority already completed a project to deepen the port to 50 feet in September 2016 – a $2.1 billion project that spanned three decades – and which served as an early example for the success and development of public-private partnerships.