‘All systems go’ for Hudson Tunnel Project as funding finalised

USA: Project promoter the Gateway Development Commission has secured all of the $16bn of financing needed for the Hudson Tunnel Project to build a second pair of railway tunnels under the Hudson River between New York City and New Jersey.

The construction of 4 km of twin-bore tunnels and 2∙2 km of new alignment by 2035, and rehabilitation of the existing 1910 twin-bore North River Tunnel by 2038, will increase capacity on a critical section of the Northeast Corridor.

The cost is being split 70:30 between the federal government and local partners. These are the states of New York and New Jersey and the Port Authority of New York & New Jersey.

On July 8 GDC signed a $6·88bn Full Funding Grant Agreement with the Federal Transit Administration, completing the $12bn federal share. It also reached financial close with the Build America Bureau for loans totalling $4·06bn to fund the local share.

GDC expects to have awarded construction contracts worth more than $5bn by the end of 2024 and will have ordered the first tunnel boring machine.

‘After many false starts and obstacles placed in our way, Gateway is full speed ahead with billions from FTA ready to go and be used for critical work and construction’, said Senator Charles Schumer. ‘Gateway’s future is assured and the most important public works project in America is all systems go.’

Amtrak Board Chair and GDC Vice-Chair Tony Coscia said ‘the new Hudson River Tunnel will supercharge the rail connections across our region and to the nation, improving and expanding rail service in ways we’ve only been able to dream about’.