Project Finance New Jersey Will Repay Just 35% Of Halted Rail Job's U.S. Funds In a deal between the U.S. Dept. of Transportation and New Jersey, the state will have to repay only $95 million of the $271 million that USDOT had disbursed for early phases of a commuter-rail tunnel that Gov. Chris Christie (R) cancelled last year. The nine-mile-long Access to the Region's Core (ARC) tunnel was to run under the Hudson River from Secaucus, N.J., to midtown Manhattan. But Christie killed the project in October 2010, citing what his office said were billions of dollars in overruns and
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.