NJ Transit Took $297M Loss On Scrapped Tunnel
An audit shows NJ Transit took a $297 million loss after Gov. Chris Christie scrapped the Hudson Riverrail tunnel project in 2010.NJ Transit spokesman Paul Wyckoff tells The Record newspaper the $297 million mostly represents engineering and design work, payments to contractors and various other items.
Christie feared cost overruns when he canceled the project. The new tunnel would have been able to handle an extra 25 NJ Transit commuter trains per hour during peak periods.
(Copyright 2012 by The Associated Press. All Rights Reserved.)