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

  • French infrastructure to be privatised?
    July 4, 2012
    How will the deep cuts hitting France's national budget affect French roads and highways? Gordon Feller discusses France has one of the most modern transport systems in Europe, the result of decades of public spending on the sector as well as other infrastructure. The government historically has awarded contracts to build infrastructure to French construction and engineering companies, some of which are now among the world's largest contractors. Among other achievements, France's infrastructure programme re
    Read More
  • Pakistan enhances road link with Afghanistan
    November 22, 2024
    Pakistan has enhanced the road link with Afghanistan and Centra Asia.
    Read More
  • Australia: Consortium ready to abandon Melbourne’s East West Link
    March 10, 2015
    The East West Connect consortium is set to abandon Melbourne’s East West Link contract in return for a payment of between US$400 million and $535 million, according to media reports. But the Victoria state government is challenging the claim by East West Connect whose partners include Lend Lease, Acciona, Capella Capital and Bouygues. Instead, the government wants East West to payback around $153 million which the consortium allegedly received when the toll road contract was signed, reported the Herald Sun
    Read More
  • Bidding for Uganda road connecting Kampala and Jinja
    May 22, 2018
    In Uganda bidding is now underway for the new expressway project to improve transport between capital Kampala and the industrial city of Jinja. The project for the 95km section of road is expected to cost US$1 billion to construct. The contract is being offered under the design, finance, build and operate model, with the route then being handed back to the Ugandan Government once the agreed concession period is complete. Some of the financing will be provided by the Africa Development Bank (AfDB), French De
    Read More

Highlighted Content