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The Tappan Zee Bridge project is moving forward after New York State was awarded a $1.6 billion loan from the federal government. Capital Tonight's Liz Benjamin has more on the exciting news.
WESTCHESTER, N.Y. -- New York State has been awarded a $1.6 billion loan from the federal government for the construction of the new Tappan Zee Bridge.
The loan is said to be the largest of its kind for the massive infrastructure project. Governor Andrew Cuomo made the announcement on WCNY's "The Capitol Pressroom."
Construction on the new bridge began in October with the installation of the first permanent piles. The bridge is scheduled to be completed in about five years.
According to Cuomo, the bridge is a victory for the entire state.
"Up to $1.6 billion. It is the largest loan the department of transportation has ever made for any project like this," said the Governor. "It is everything we were looking for and more. So this is really great news for the state. Great news for the Tappan Zee project."
The total cost of the replacement project is estimated at $3.9 billion.