Big Bucks for Big Dredge

Ticker
Wednesday, April 18, 2012
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A $250 million influx will make way for ever-larger cargo vessels.

As we reported yesterday, New York’s Vision2020 plan is well on its way toward becoming a legal reality. Mayor Bloomberg has now backed up the plan with substantial infrastructure. Together with Port Authority Director Patrick Foye, the mayor today announced a $250 million economic development package to facilitate dredging the Harbor and dropping the water main that runs from Brooklyn to Staten Island to 100 feet underground. The deeper channels will accommodate the mega cargo ships that fit through the expanded Panama canal that will be completed in 2014. The next generation of boats are about double the size of todays ships.

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