Robert Besser
16 Mar 2023, 23:05 GMT+10
NEW YORK CITY, New York: New York Governor Kathy Hochul has announced that after a study found the costs of a proposed light train had risen over budget, the state will cancel the project, which would have connected to the city's LaGuardia Airport.
Instead, the study proposed upgrading the current bus service.
The project, backed by previous governor Andrew Cuomo, was put on hold by Hochul in late 2021 and was estimated to then cost $2.1 billion, though it has now risen to least $2.4 billion.
Hochul said she was grateful an expert panel provided "a clear, cost-effective path forward with an emissions-free transit solution."
To start the process to fund improvements to the bus service, the Port Authority will file a planning authorization request with the board for approval in the next 60 to 90 days.
In a 450-page report, the panel said the Port Authority should instead improve existing municipal bus services and add new non-stop airport shuttle service and dedicated bus lanes.
The report estimated the expanded bus service to cost under $500 million, compared to $2.4 billion for the light train project, which would have taken six to seven years to complete.
Connecting the airport by subway would also cost some $6.2 billion and take around 12 years to finish.
Get a daily dose of Business Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Business Sun.
More InformationNEW YORK, New York - Wall Street continued its advance on Tuesday as investors continued to weigh up the health ...
FRANKFURT, Germany: The German Automobilwoche magazine has reported that as part of its efforts to switch to selling electric vehicles ...
NEW YORK, New York - U.S. stocks rallied on Monday following the weekend buy-in of Credit Suisse by UBS, which ...
WASHINGTON D.C.: The US Federal Reserve Bank has announced that cash-strapped banks throughout the US borrowed some $300 billion during ...
ZURICH, Switzerland - Depositors will be fully protected, shareholders will have their equity dwarfed, while bond holders will be largely ...
WASHINGTON D.C.: According to a report from the US Commerce Department, in February, US retail sales fell moderately, likely the ...
TAIPEI, Taiwan: The founder of chip manufacturer TSMC, Morris Chang, said that he supports the efforts of the US to ...
SEOUL, South Korea: In line with the country's efforts to boost its chip industry, South Korea's Samsung Electronics said it ...
New York [US], March 22 (ANI): Google is opening up access to Bard, its new AI chatbot tool that directly ...
Los Angeles [US], March 21 (ANI): On Tuesday, Mark Zuckerberg announced two new updates for WhatsApp groups. With the new ...
New Delhi [India], March 21 (ANI/Bloomingdale): Latest Kaspersky research reveals cybercriminals posted more than 1 million messages mentioning escrow services ...
paris - Astronomers on Monday warned that the light pollution created by the soaring number of satellites orbiting Earth poses ...