Public-Private Partnerships Will Be Key in Bridge, Airport Projects: Port Authority Chief
Public-private partnerships for a major bridge and airport-terminal renovation are highlights of the Port Authority of New York & New Jersey’s plans for the next decade, which focus mainly on fixing infrastructure that, in some cases, is almost 90 years old.
Pat Foye, port authority executive director, told members of the Transportation Research Forum’s New York chapter in early September that the agency will retain authority over tolling on the Goethals Bridge, which will undergo a $1.5-billion rehabilitation and upgrade by a concessionaire team led by Australia’s Macquarie Group Ltd. and the contractor Kiewit Corp. The port authority will pay back the consortium over 40 years with annual payments that start at $60 million.