Port Authority of New York and New Jersey (PANYNJ) reached a revised agreement with The New Terminal One (NTO), a consortium of financial sponsors, to commence phased construction of a 2.4 million sqft terminal at New York John F. Kennedy International Airport.

In a statement, it said the US$9.5 billion project will take place on the current Terminal 1, Terminal 2 and former Terminal 3 sites and will include 23 new gates, a new arrivals and departures hall, dining and retail amenities, among others.

It said construction is slated to begin in mid 2022, with the first new gates scheduled to go live in 2026 before a full project completion around 2030.

NTO will provide financing to cover the required investment for the terminal, while PANYNJ will undertake a number of infrastructure upgrades and improvements, including projects on roads, parking and utilities such as a new electrical substation.

"This agreement to build a new Terminal One at John F. Kennedy International Airport demonstrates the commitment of the Port Authority of New York & New Jersey and our private partners to deliver for our region through some of the most difficult times in our agency's 100-year history," said Port Authority Chairman Kevin O'Toole said.

US$2.1B deepening project cited

Earlier, the Port Authority of New York and New Jersey also announced a US$2.1 billion New York/New Jersey Harbor Deepening Project (HDP), carried out between 2004 and 2016, which is expected to usher "long-term environmental benefits for the region."

The Port Authority Board of Commissioners adopted at its November meeting new two new, critical sustainability policies as part of the agency’s enhanced sustainability commitment.

The first policy commits the agency to the goal of achieving net-zero greenhouse gas emissions by 2050, while the second policy commits the agency to the goal of cutting direct greenhouse gas emissions in half by 2030. 

It noted that it is the first by a US transportation agency to set a net-zero target for all emissions.