Wednesday, December 07, 2011

PATH's 2012 capital budget: $351.5 million

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The Port Authority of New York & New Jersey on Wednesday unveiled a preliminary 2012 capital investment program totaling $3.659 billion—“enough to keep priority capital programs moving forward and to maintain facilities in a state of good repair.”

panynj-new.jpgThe budget now under consideration earmarks $351.5 million for PATH passenger rail operations. System items include $108.3 million for signals and communications, $59.8 million for infrastructure, and $51.9 million for railcars. Additionally, there’s $3.7 million for safety improvements toinfrastructure, security, and signals-commutations. Journal Square, in Jersey City, N.J., is allocated $9.4 million for infrastructure and security.

On the rail freight side, improvements totaling $99.5 million for Port Newark will include $35 million for intermodal facilities. The Newark Container Terminal is down for $36.2 million.

The Port Authority is tentatively allocating $2.1 billion toward completion of the new World Trade Center in downtown New York, including $459.7 million for the WTCTransportation Hub and $41.1 million for the Cortlandt Street Station in lower Manhattan.