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    13,754.510
    83.820
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  • OTRI.USA
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  • OTVI.USA
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    82.630
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  • ITVI.USA
    13,754.510
    83.820
    0.6%
  • OTRI.USA
    21.920
    -0.140
    -0.6%
  • OTVI.USA
    13,721.420
    82.630
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  • TLT.USA
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American Shipper

NEW YORK-NEW JERSEY PORT TO FUND $50 MILLION IN RAIL IMPROVEMENTS

NEW YORK-NEW JERSEY PORT TO FUND $50 MILLION IN RAIL IMPROVEMENTS

   The Port Authority of New York and New Jersey's board of commissioners has agreed to provide $50 million to improve the region's rail freight capacity.

   The port authority will provide $25 million to each state. The funds are in addition to its existing plans to spend about $193 million on regional rail improvements at or near its marine terminals, as part of the authority's five-year capital program.

   Projects to be funded will be determined in consultation with the two states. Consideration will be given to projects that were identified as strategically critical at a regional summit of government agencies, including the port authority, the City of New York, the two states, and railroads including CSX Transportation, Norfolk Southern, Canadian Pacific and the new York and Atlantic Railroads.

   These projects would fall outside the scope of considerable capital projects undertaken by CSX and NS to improve and rationalize the old Conrail network. These near-term, small-scale yard and track improvements range from track work in the Bronx to similar line and capacity enhancements in New Jersey, the port authority said.