New York and New Jersey have committed to funding 100 percent of the two states' shares of a new rail tunnel underneath the Hudson River, NJ and NY governors announced.
NJ Transit will commit $1.9 billion and the State of New York will commit $1.75 billion of the $12.7 billion Gateway Hudson Tunnel Project.
The project consists of a new two-track tunnel, the Hudson Yards Concrete Casing and the rehabilitation of the existing Amtrak North River Tunnel.
"The construction of the Hudson River Tunnel Project, and builds on the work we began earlier this year with the early construction of the Portal North Bridge Project," Governor Chris Christie said.
"The Hudson Tunnel Project is critical to the regional and national economy and protects against a potentially disastrous scenario of a closure of one of the two tubes of the existing North River Tunnel.
"Together, with the rehabilitation of the existing tunnel, this project will result in the crucial Northeast Corridor having four tracks between New Jersey and New York under the Hudson River, allowing for increased ridership in the future."
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