New US$1.5bn bridge linking New Jersey, New York City

A consortium led by Australia-based Macquarie Group and Kiewit of the US, known as NYNJLink, is to build a new US$1.5bn bridge connecting New Jersey and New York City in the US. Chairman of the Port Authority of New York and New Jersey David Samson said that the Authority will hold on to the ownership of the existing Goethals Bridge. Upon completion, 35 yearly payments of roughly US$60 million per annum will be made to the consortium. A maximum of $500 million US Department of Transportation low-interest lo
April 26, 2013 Read time: 2 mins
A consortium led by Australia-based 2378 Macquarie Group and Kiewit of the US, known as NYNJLink, is to build a new US$1.5bn bridge connecting New Jersey and New York City in the US.

Chairman of the 2422 Port Authority of New York and New Jersey David Samson said that the Authority will hold on to the ownership of the existing Goethals Bridge. Upon completion, 35 yearly payments of roughly US$60 million per annum will be made to the consortium.

A maximum of $500 million 2364 US Department of Transportation low-interest loan, and $363 million from the Port Authority will go towards the new bridge’s construction. A four-decade contract to construct, maintain, finance and design the bridge will be given to NYNJLink. The two sides have yet to sign a final concession deal for the bridge, which has been billed as the biggest transportation project to be constructed with private funding in the region.

For more information on companies in this article

Related Content

  • US infrastructure spending
    January 2, 2024
    US$492 billion in infrastructure funding remains to be allocated, but it all ends in 2026 by Mary Scott Nabers
    Read More
  • Papua New Guinea mends its bridges
    February 28, 2022
    Under the latest tranche of the Sustainable Highlands Highway Investment Programme, 45 of the estimated 71 bridges will be completely replaced.
    Read More
  • Award for Bayonne Bridge project in the US
    April 2, 2020
    A major engineering award has been given for Bayonne Bridge project in the US.
    Read More
  • Australia responds to infrastructure funding challenge
    July 13, 2012
    The Global Financial Crisis (GFC) has drastically changed the way governments and the private sector is prepared to procure vital infrastructure projects, says Philip Davies Governments have responded to the GFC by focusing on long term investment in transport infrastructure and shorter term stimulus packages to kick-start economies. As these projects proceed, the focus will shift to maintaining and achieving maximum benefits from assets and future infrastructure funding. The Public Private Partnership (PP
    Read More

Highlighted Content