New York JFK unveils USD13 billion transformation
New York Gov. Andrew Cuomo has unveiled details of the proposed multibillion dollar update to New York JFK Airport which will create a world-class air hub the city can be proud of.
New York must spend big to update its transportation infrastructure to stay competitive, Cuomo said, outlining the $13 billion project to build two new terminals.
"JFK has been outdated all of my life. Either you are building and you are creating, or you are getting left behind, that is the simple reality of life," he said.
All but $1 billion will be funded by the private sector.
A new $7 billion terminal will be funded jointly by a quartet to international airlines – Lufthansa, Air France, Korean Air Lines and Japan Airlines.
A second $3 billion terminal be built and financed by JetBlue.
The terminals will be interconnected and more than $1 billion in public money will go toward updating access roads and expanding the AirTrain rail service from Queens.
Work is expected to begin in 2020 with a tentative completion date of 2025.
It will increase passenger capacity to 75 million by 2030 and up to 100 million by 2050.
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