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NY/NY Port Authority Plans Billions in Infrastructure Spending

The Port Authority of New York and New Jersey will spend nearly $30 billion on upgrading transportation infrastructure in the New York metropolitan area over the next decade, the bistate agency said in a ten-year capital plan released on Tuesday.

The agency, which runs the major airports, bridges and other shared infrastructure in the region, including six marine terminals, said its $27.6 billion capital plan will include $5.6 billion for new terminals at La Guardia and Newark airports.

The plan will also include $3.3 billion in upgrades to the trans-Hudson PATH train system with an extension to Newark Airport, creating a direct link between the airport and lower Manhattan.

Source: Reuters. Read full article. (link)

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