$500 million assigned for New Jersey’s major international airport project

Published on : Thursday, December 14, 2017

 

newarkThe Port Authority Board of Commissioners approved USD $496 million investment in the Newark Liberty International Airport to initiate major landside and airside projects.

 

 

The cash injection is a part of the overall $2.3 billion Terminal A redevelopment programme.

 

 

The programme is designed to deliver one- million-square-foot terminal that will accommodate 33 aircraft gates  providing an efficient roadway network with parking for 3,000 vehicles.

 

 

Extensive paving work, milling of existing pavement, demolition of buildings, concourse and satellites, installation of new drainage system, construction of four new bridge structures were the work authorized last week.

 

 

Terminal One is scheduled for partial opening in 2021 while the facilities will  be fully operational by 2022.

 

 

The redevelopment programme approved by the Port Authority is expected to create 10,390 jobs, $998 million in wages and $3.39 billion in regional economic activity.

 

Port Authority Chairman Kevin O’Toole said that Newark Liberty is experiencing unprecedented growth in passenger traffic, it was up by 7 per cent this year and it might  greatly exceed the record 40 million customers  served in 2016.

 

The Port Authority’s Vice Chairman, Jeffrey Lynford said that the authorisations will help accelerate a program that is vital to the airport’s future success.

 

They will deliver operating efficiencies and enhance the travel experience for tens of millions of customers who rely on Newark Liberty.

 

 

 

An additional sum of $250 was authorized for two projects related to terminal redevelopment,where $175 million will be allotted to pave 40 airside acres and $75 million for foundation work.

 

 

 

$ 8 million was also approved to analyze the feasibility of consolidating rental acre facilities and to centralize the operations of all rental agencies that serve the airport.

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