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Rail News: Passenger Rail
7/15/2010
Rail News: Passenger Rail
NJ Transit approves FY2011 budget, OKs rolling stock purchase
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Yesterday, NJ Transit’s board approved a $1.79 billion operating budget and $1.35 billion capital program for fiscal-year 2011, which began July 1.
In addition, the board approved the purchase of 100 additional multilevel rail cars and 10 dual-mode locomotives. The rolling stock will replace aging equipment in the fleet, increase seat capacity and improve reliability, NJ Transit officials said in a prepared statement.
The agency faced a budget gap of approximately $300 million. To address the deficit, NJ Transit increased fares, reduced services and “increased internal efficiencies,” NJ Transit officials said.
In addition, the board approved the purchase of 100 additional multilevel rail cars and 10 dual-mode locomotives. The rolling stock will replace aging equipment in the fleet, increase seat capacity and improve reliability, NJ Transit officials said in a prepared statement.
The agency faced a budget gap of approximately $300 million. To address the deficit, NJ Transit increased fares, reduced services and “increased internal efficiencies,” NJ Transit officials said.
