Webuild subsidiary secures contract for Hudson Tunnel Project [Yahoo! Finance]
ACS ACTIVIDADS CNS UN/ADR (ACSAY)
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Source: Yahoo! Finance
Lane's share of the contract is 35%, which will contribute to enhancing New York City's rail connections. The project, named the Palisades Tunnel, is set to improve the efficiency and capacity of the region's transportation infrastructure. The award by the Gateway Development Commission marks the first tunnel contract under the larger Hudson Tunnel Project. This initiative aims to construct a new tunnel between New York and New Jersey and rehabilitate the existing rail tunnel, which is more than 114 years old. Palisades Tunnel, along with the Hudson River Tunnel and the Manhattan Tunnel, forms a part of the broader infrastructure scheme. The 'Package 1A Palisades Tunnel Project' involves the design and construction of two twin rail tunnels, each approximately 1.6km long with an internal diameter of about 8m. The excavation will be carried out using two large tunnel-boring machines (TBMs). The contract also includes the construction of the tunnel's western portal near To
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