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

  • VIDEO: Gap closed for Gordie Howe Bridge
    July 26, 2024
    A 26m gap in the deck was recently closed on the bridge that will connect Detroit in the US state of Michigan and Windsor in the Canadian province of Ontario.
    Read More
  • Major bridge widening project going to plan
    April 11, 2012
    When built it was determined that a vital US road/rail bridge would always be widened. Work on that huge project is going to plan as Patrick Smith reports One of the biggest bridge widening projects in the world is being carried out under an ambitious development programme. At US$1.2 billion, the seven-year scheme to widen the Huey P. Long Bridge in the US state of Louisiana is also the largest of 16 projects planned under the state's TIMED (Transportation Infrastructure Model for Economic Development)
    Read More
  • Funding for key Russian highway projects
    May 10, 2012
    A notable partnership deal looks set to provide funding for key Russian highway projects. A memorandum of cooperation has been signed between the state-owned Russian Highways (Avtodor) and the European Bank for Reconstruction and Development (EBRD). Under this deal the EBRD may provide loans to Avtodor, redeem bonds, or co-operate on concession agreements. This funding stream will allow Avtodor to implement its key PPP projects. Avtodor and the EBRD have been discussing the highway linking Moscow with St Pe
    Read More
  • ARTBA predicts growth in transport construction
    December 2, 2016
    Modest growth in transport construction is predicted in the US in 2017 by the American Road & Transportation Builders Association (ARTBA). According to a report by ARTBA chief economist, Dr Alison Premo Black, total transportation construction and related market activity is expected to grow 1.3% in 2017, driven largely by increases in highway and bridge private construction activity supporting residential and commercial developments. In 2017, the market is expected to reach US$247.8 billion, up from $244
    Read More

Highlighted Content