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NJ Transit set to borrow $500 million to replace old trains and buses

(Source: www.nj.com, December 9, 2019)

NEWARK, N.J. — NJ Transit is about to take out the mother of all new vehicle loans -- $500 million to purchase new trains and buses to rid the fleet of the old ones that break down and cause delays. The financing would allow NJ Transit to retire some of its oldest GP40 diesel locomotives, which were built in the 1960s and rebuilt in the early 1990s. NJ Transit has 52 of those locomotives. Twenty-nine would be replaced and 17 rebuilt and remain in revenue service, under the agency’s 2014 fleet plans.

Full story: www.nj.com

Friday, December 13, 2019

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