Beverly Hills 12/10/2009 1:16:47 AM
News / Business

NJ Transit Awards $583 Million Hudson Tunnel Project

Finance World News Update by EQUITIES Magazine

Today NJ Transit board unanimously approved the first tunneling contract for the $8.7 billion rail tunnel between New Jersey and Manhattan.

 

Barnard Construction Co. or Pompton Plains and Judlau Contracting of New York will be paid $583 million to dig the mile-long tunnel.

 

The project, which is known as Access to the Region's Core, or ARC, is expected to double train capacity into and out of Manhattan by adding two single-track tunnels under the Hudson River.

 

About EQUITIES:

 

Since 1951, EQUITIES Magazine has been a leading media company providing business editorial content designed to serve the needs of business leaders, professionals, institutional investors and retail investors. We are focused on business and the business of making money, not on lifestyle subjects. We publish original reporting in print and on our website, as well as select content at www.nasdaq.com. For 28 years we have hosted our own branded investor conferences that connect public company CEO’s with our loyal readers in the investment community.

 

Sign up for a free one-year subscription to EQUITIES Magazine