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September 17, 2019

New York’s MTA unveils plans to invest $5.7bn on Long Island Rail Road

New York’s Metropolitan Transportation Authority (MTA) has proposed a $5.7bn investment for Long Island Rail Road (LIRR) in its proposed 2020-2024 Capital Plan.

New York’s Metropolitan Transportation Authority (MTA) has proposed a $5.7bn investment for Long Island Rail Road (LIRR) in its proposed 2020-2024 Capital Plan.

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The proposed capital plan will cover track, station improvements, signals and switches, as well as rolling stock. This will help modernise LIRR for the opening of East Side Access and Main Line expansion by December 2022.

LIRR president Phil Eng said: “The modernisation of the LIRR that has begun in recent years will continue under this programme.

“Not only will it enable us to continue to accelerate our system-wide core improvements to service safety, accessibility, reliability and comfort, it will enable us to sustain and grow Long Island’s economy and quality of life for the entire region.”

MTA has allocated $1bn for track upgrades, including installation of concrete ties and continuous welded rail.

Around $910m will be spent on station accessibility and improvement programmes. The project will construct seven additional stations accessible in compliance with the Americans with Disabilities Act.

Replacements such as platform, elevator and escalator will also be delivered to more than 20 stations.

As a part of its Forward Plan to renew infrastructure and train reliability, LIRR has set aside $364m to replace a certain percentage of switches, track circuits and grade crossing equipment.

The railroad will also acquire 160 M9A electric cars, 20 coaches and more than ten locomotives to operate in the non-electrified territory.

Furthermore, $4.7bn will be used to allow Metro-North to provide New Haven Line access to Penn Station through four new Bronx stations, substitute M3 rail cars, stations upgrade and the Grand Central Terminal train shed and Park Avenue tunnel and viaduct replacement.

Metro-North Railroad president Catherine Rinaldi said: “The proposed 2020-2024 Capital Program will allow Metro-North to continue its aggressive programmes to upgrade its ageing infrastructure and to improve the customer experience.

“Under this plan, we will begin the replacement of the Park Avenue Viaduct, one of the most significant construction projects in the history of the MTA. It also includes additional funding for the Penn Access project, which will enhance our network by creating a Metro-North connection between the East Bronx and Penn Station.”

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Free Report
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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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