NY/NJ port projects secure $346m funding
New York/New Jersey port authority is to invest $346m in port projects for 2012, in addition to the $15m it will spend on increasing air draft clearance under the Bayonne Bridge.
The biggest beneficiary will be Global Terminal, which has been earmarked $87.5m.
The second-largest capital project will see investment of $58.3m on the development of a rail ramp at the Greenville Yards.
A further $36.3m will be spent on the New York Container Terminal on Staten Island, $29m of which will be committed to dredging works.
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