Approval for JFK air cargo modernisation plan
The Port Authority Board of Commissioners of the Port of New York and New Jersey (Panynj) has authorised the second phase of a multi-tiered cargo modernisation plan at John F. Kennedy international airport, with the signing of a 31-year lease with the company JFK Air Cargo to develop a state-of-the-art handling facility at the airport. The deal is expected to bring USD 152 million in rentals and a USD 70 million investment by JFK Air Cargo.
Panynj is contributing up to USD 13 million toward site preparation work and roadway improvements needed to complete construction, including a new truck "turn-around" that will allow additional traffic to enter and exit the north cargo area more easily. Located on 6.5 ha site in this cargo area, the new facility is expected to be completed in approximately 24 months. (ah)