The anticipated AirTrain project at Newark Liberty International Airport has exceeded its initial budget by $1.45 billion, bringing the total cost to $3.5 billion.
On Thursday, the Port Authority of New York and New Jersey approved a significant funding increase of over 70% for the AirTrain EWR project. Originally budgeted at $2.05 billion, the project aims to replace the outdated train system that serves more than 30,000 daily passengers at the busy metropolitan airport.
The expanded budget accounts for inflation and setbacks caused by the COVID-19 pandemic, as outlined in a statement from the agency. Additional factors, such as heightened risk contingencies for large-scale infrastructure endeavors and supply chain disruptions, have further inflated the costs.
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