Who's Building New York's Transit System??
TL/DR: Here are the companies building New York’s transit. If you ride the subway or pay tolls, consider owning them.
I. Introduction
“I would have every man a capitalist, every man, woman and child[]. . . . I would have everyone save his earnings, not squander it; own the industries, own the railroads, own the telegraph lines.”
John D. Rockefeller
If this labourer were in possession of his own means of production, and was satisfied to live as a labourer, he need not work beyond the time necessary for the reproduction of his means of subsistence, say 8 hours a day.
Karl Marx - Das Kapital
The most important lesson I took from Thomas Piketty's Capital in the 21st Century is the vital role that ownership plays in generating wealth.
"Nearly everyone in the top [10% of the wealth distribution] owns his or her own home," mentions Piketty. "[B]ut the importance of real estate decreases sharply as one moves higher in the wealth hierarchy." Although I grew up under the common notion that home ownership is an elemental block to building wealth (and the mark of a middle-class life), what I heard much less was about owning anything beyond that.
"Housing is the favorite investment of the middle class and moderately well-to-do, but true wealth always consists primarily of financial and business assets," underscores Piketty (emphasis mine). "[L]arge fortunes consist primarily of financial assets (mainly stocks and hares in partnerships)."
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Despite their massively divergent world views, John D. Rockefeller and Karl Marx's thoughts on ownership, as mentioned in their quotes above, share ironic similarities.
Rockefeller, the apex capitalist, amassed his tremendous fortune by owning most of Standard Oil, which, at its peak, produced somewhere around 90% of oil production in the United States. In his biography of Rockefeller, Titan, Ron Chernow remarks that Rockefeller urged his underlings to take stock in Standard Oil in order to create a shared spirit of comradeship within the company – a devotion to the business that helped them dominate competitors.
Marx, on the other hand, advocated for the abolition of private property. “You are horrified at our intending to do away with private property," he wrote in The Communist Manifesto. "But in your existing society private property is already done away with for nine-tenths of the population; its existence for the few is solely due to its non-existence in the hands of those nine-tenths." In essence, Marx's vision of the world entailed collective ownership, where "nine-tents" of the population owned more.
Under both worldviews, both emphasize the vital role of ownership.
What do Rockefeller and Marx, and abstract theories of private property, have to do with congestion pricing? Everything. Let me explain.
II. Congestion Pricing and the Future of New York
Congestion pricing has caused an uproar in New York City. While I personally think the city is inundated with cars and traffic, I sympathize with critics who distrust the MTA and remain pessimistic about its promise to improve public transportation. Indeed, critics have a reasonable basis for their cynicism, given the MTA's history of mismanagement as I covered in this video.
For the MTA, staying within a budget seems notoriously difficult. The East Side Access project, for example, was initially budgeted for $4.3 billion but ended up costing nearly $12 billion, supposedly seven times the average of similar projects in the world.1 Additionally, vendors are known to add up to 42% on top of estimated costs when bidding for contracts to account for the difficulty of working with the MTA.2
Admittedly, the MTA has the enormously difficult task of managing one of the world's most complex and heavily used transportation systems. Given this, it won't be perfect. This, however, is no excuse for failing to steward the public's money competently.
Undoubtedly, NYC's subway system needs upgrades, which are not cheap. In 2024, for example, the MTA Board proposed $68.4 billion to fund its 2024-2029 Capital Plan.3
Like it or not, New York is crucial to the prosperity of the United States. It is the third-largest economy in the US and, if it were a country, ranked as the 14th largest globally. It is also the financial capital of the world, home to Wall Street, the New York Stock Exchange, and Nasdaq, the two largest stock exchanges in the world.
Considering that public transportation is the backbone of New York's economy, it wouldn't be hyperbolic to say that the continued prosperity of the US depends on the MTA's ability to move people around. Even if you are wealthy enough to remove yourself from the general population by avoiding public transit, your nannies, housecleaners, chefs, waiters and delivery people cannot.
In reality, we all depend on a properly functioning transit system.
Accordingly, New York will go above and beyond to fund its transportation system, whether through controversial measures like congestion pricing, raising tolls, or increasing taxes elsewhere.
All this made me question:
Where is all this money going? And to whom is it going, considering that the MTA contracts companies to upgrade its system?
As my research shows, several of the MTA's contractors are giant multinational conglomerates operating within the US as foreign corporations. Kawasaki Rail Car, Inc., the MTA's primary railcar manufacturer, is listed in the Capital Plan as located in Yonkers, NY, suggesting that the MTA spends its money with American companies – providing work for its residents. While true, what isn't mentioned is that Kawasaki Rail Car is a subsidiary of the larger Kawasaki Railcar Manufacturing, which is itself a subsidiary of the even larger Kawasaki Heavy Industries, both located in Japan.4
Almost every major contractor is a publicly traded foreign corporation. The other major railcar manufacturers, Alstom and Siemens, are French and German, respectively. This means that our dollars will eventually end up in the coffers of these publicly traded companies, which isn’t a surprise considering our interconnected global economy.
With that said, imagine if every New Yorker who pays a toll gets a slice of these publicly traded companies. For every $10 spent crossing into Manhattan, $1 goes towards purchasing stocks in these companies that are building New York. For every $200 dollars spent riding the subway, $20 could go to doing the same. I know implementing such a plan is challenging, given the complexity of securities laws.5
But, I think this idea of owning the thing you use everyday is important and worth considering.
Recall how I started this article by citing Piketty: "true wealth always consists primarily of financial and business assets."
Therefore, given the MTA's critical role in New York's economy and its massive needs, companies that build New York's infrastructure are arguably some of the most valuable.
"[O]wn the industries, own the railroads, own the telegraph lines," Rockefeller said a decade ago; today, he'd say own the companies that maintain the MTA.
But if you prefer Marx's vision of giving more to the "nine-tenths" for whom private property doesn't exist, claiming a piece of these critical companies does the same.
III. A few Caveats
First, it's essential to know that congestion pricing will contribute only $15b out of the total $68.4b the MTA says it needs. This is a key fact because the public expects better public transportation if it's being taxed to improve it. The challenge for the MTA, then, is that it needs to deliver results with far less money than it collects from congestion pricing.
In other words, even if it appropriately spends all $15 billion during the next several years, that doesn't guarantee that public transit will improve to a degree deemed satisfactory by the public.
Second, after reviewing the MTA's Capital Plan and website, I get the sense that most of its employees genuinely want to improve public transportation. But, as mentioned earlier, the work is a challenge. Additionally, the improvement that the public perhaps most desires is arguably beyond the MTA's scope: public safety and crime, which is traditionally the realm of the Police Department.
Without a doubt, horrific acts of violence have occurred in the subway system. People have been shot, stabbed, pushed onto subway tracks, and one woman was even set on fire. Although the overall crime index in 2024 dropped nearly 3% from 2023, the public's perception of crime seems high and intolerable.6 Accordingly, even if trains run smoother and stations become more accessible, riding on the subway will be dreadful if people don't feel safe.7
Third, I want to be clear that I am not insisting that any of these companies are price-gouging the state or committing any impropriety otherwise. I don't have any proof of this. Ergo, this research should not be viewed as a list of companies that are "getting-rich" from you. Before doing this research, I didn't quite appreciate just how much the MTA stimulates the economy – it's a major employer not just for New Yorkers but also for people outside of the US.
Fourth, the mentioned companies are ones that I can only predict will receive MTA contracts, given (1) their history with New York, (2) their mentions in the capital plan, and (3) their capabilities of meeting the MTA's needs. Therefore, this research is ongoing and does not provide a final – nor official – statement on the current state of MTA contracting.
IV. The MTA’s proposed work
The MTA's Capital Plan organizes its many needs into several categories: purchasing new railcars, modernizing signals, upgrading maintenance facilities, renewing its power systems, rebuilding the Grand Central Artery, preparing critical structures, increasing station accessibility8, defending the system from flooding and several others.9
By the time I’ve published this piece – January 17, 2025 – I have covered only three areas, hoping to cover more.
a. Railcar and Bus Fleet Modernization ($10.9b)
TL/DR: New train cars are more reliable than dated train cars
The MTA’s decision to modernize its railcars stems from the pressing need to replace a fleet that is nearing the end of its useful life. Many subway cars currently in service are over 40 years old, leading to frequent breakdowns and costly maintenance. The oldest cars, like the R62 models from the 1980s, fail up to six times more often than newer models, disrupting service and reliability.
Additionally, older railcars are incompatible with Communications-Based Train Control (CBTC), a modern signaling system designed to improve train speeds and frequency. By investing in 1,500 new subway cars, the MTA aims to enhance passenger experience with features like wider doors, better lighting, and digital signage, while ensuring compatibility with advanced technology to create a more efficient and reliable transit system.10
The plan allocates $10.9 billion to purchase 1,500 new subway cars and 500 railroad cars. With the exception of Siemens Mobility, the following companies are listed in the Capital Plan as companies for which the MTA has contracted since 2010.
Companies supplying railcars to the MTA
Kawasaki Heavy Industries Ltd. (Japan)(Tokyo Stock Exchange: 7012)
Through its subsidiary Kawasaki Rail Car, Inc. (a subsidiary of Kawasaki Railcar Manufacturing Company ), Kawasaki’s involvement with the MTA dates back to 1982, when it received its initial order for R62 subway cars11. Since then, Kawasaki has successfully delivered over 2,200 cars to New York City Transit (NYCT).12
In 2018, the MTA awarded Kawasaki a contract for 535 R211 series subway cars, worth approximately $1.4 billion.13 This contract included options for additional cars, which the MTA has been exercising:
For example, in October 2022, the MTA exercised an option for 640 additional R211 cars, bringing the total order to 1,175 cars.
In December 2024, the MTA approved an order for 435 more R211 cars, including 80 with an open-gangway design.14
If all options are exercised, the total number of R211 cars could reach 1,612, making it potentially the largest rail car contract ever awarded to Kawasaki, with a total value of approximately $4.1 billion.15
Alstom (France)(Euronext Paris: ALO)
Alstom Transportation, a subsidiary of Alstom, has a factory in Hornell, NY, giving it roots in New York with its design and manufacturing activities. At one point, it was producing two railcars a day at peak production, employing 800 workers.
Since 2002, Alstom has delivered 1,002 R160 railcars to the MTA in collaboration with its partner Kawasaki, who delivered 660 R160 railcars, in a contract worth more than $2b. Notably, most of Kawasaki's railcars used a gearbox developed by Alstom, which was developed with a $500,000 grant from New York State's Energy Research and Development Authority.16
Strategic Partnerships - NYSERDA's support in connecting Alstom with the MTA and other transit stakeholders has established the company as a strategic partner in the region. This relationship has positioned Alstom to compete for future MTA contracts while aligning with New York State's transportation and environmental goals.
For instance, In April 2023, Alstom was awarded an operations and maintenance contract for the Maryland Area Rail Commuter (MARC) Camden and Brunswick Lines. The initial five-year contract is valued at €367 million, with potential extensions bringing the total value to €1.2 billion over 15 years.17 This demonstrates Alstom's continued strong presence in the U.S. transit market, which may influence future relationships with the MTA.
Siemens - (Germany) (Frankfurt Stock Exchange: SIE)
Through Siemens Mobility, Siemens has two separate contracts with Metro-North Railroad and the Long Island Rail Road (LIRR) for dual-mode locomotives, awarded under a shared framework agreement. The Metro-North contract, initially valued at $335 million in 2020 for 27 locomotives, has since grown as additional options were exercised.18
Separately, the LIRR contract was valued at $414 million after modifications to its base order but was later expanded significantly, with a recent option for 44 additional locomotives bringing its total to $787.6 million.19 While both contracts involve Siemens' Charger locomotives designed for dual-mode operation (diesel and electric), they are distinct agreements tailored to the specific needs of each railroad.20
Importantly, these locomotives are designed to operate on both diesel and electric power, improving efficiency and reducing emissions, in line with New York's goal of significantly reducing its greenhouse gas emissions as outlined in the Climate Leadership and Community Protection Act.
SepsaMedha North America - (India)(Private)
Listed as a railcar supplier, SepsaMedha North America has an ongoing relationship with the MTA, primarily as a supplier of auxiliary power converters and on-board systems for railcars.
Additionally, it supplies components for railcar manufacturers like Kawasaki, which has significant contracts with the MTA for subway cars such as the R160 and R211 fleets. This partnership involves SepsaMedha providing inverters and other power electronics systems that are integrated into the railcars.21
The company’s expertise in power electronics and embedded systems continues to support MTA's modernization efforts by enhancing energy efficiency and reliability in its transit fleet.
The company has been operating in North America since 1999 and has established a presence in Ballston Spa, New York.22
As the MTA plans to purchase approximately 1,500 new subway cars and 500 new railroad cars, companies like SepsaMedha could play a crucial role by providing essential components that enhance the functionality and efficiency of these vehicles.
STI-CO Industries (Private - New York)
Although I could not find any prior dealings between STI-CO and the MTA, they are named as a railcar supplier in the capital plan. STI-CO designs and manufactures custom antenna solutions, with a focus on sectors including transportation.
The company specializes in creating antenna systems for various applications, including those used in trains and transit systems. Their products are designed to support mission-critical communications, which could potentially be relevant to public transportation systems like those operated by the MTA.
Metal Solution (Private - New York)
While here, too, I could not find any direct dealing with the MTA aside from its listing in the capital plan. Metal Solutions, headquartered in Utica, NY, says that it has provided 12 years of fabrication solutions for the rail industry. More specifically, it says it fabricates A/C systems, flex and heat ducts, electrical enclosures and other parts.23
Given its roots in upstate New York and its rail industry fabrication capabilities, it is likely it will be a part of the railcar manufacturing process.
b. Signal Modernization ($5.4b)
TL/DR: Modern signal technology Improves train speeds, service frequency, and reliability
The MTA needs to modernize its signaling system because much of the current infrastructure relies on technology that is over a century old. The existing fixed-block system divides the tracks into sections and allows only one train per section, which limits the number of trains that can run and slows down service.
This system is inefficient and unable to meet the increasing demand for faster, more reliable transit, particularly during peak hours. By implementing **Communications-Based Train Control (CBTC)**, which allows trains to communicate in real time, the MTA can safely increase train frequency, reduce delays, and improve overall service efficiency, providing a much-needed upgrade for New York City's transit system. For a video on how this works, click here.
The MTA plans to bring CBTC to at least 75 miles of outdated signals, including to the Broadway Line (N/Q/R/W), Liberty Av Line (A), Rockaway Lines(A/S), and Nassau St Line (J/Z).24
Companies
Siemens (Frankfurt Stock Exchange: SIE)
Siemens Mobility, again, is a major player, being a global leader in rail automation and signaling technology, and it’s one of the only companies capable of meeting this need. In 2009, Siemens installed its Trainguard MT system on the L train, which has supposedly improved the line.
In 2015, it was awarded a $156m contract to work on the signals for trains that run along the Queens Boulevard line (E, F, M, and R).25
In 2020, it was a contract to work on the 8th Ave Line (A,C,E), in which it will provide its system and equipment.26
Thales Group (France - Euronext Paris: HO)
In 2019, the Thales group installed its SelTracTM CBTC on the 7 line, budgeted originally for $265m but ending at $405.7m by its completion.27
In 2015, it won a $49.6m contract to upgrade the Queens Boulevard line.28
In partnership with TC Electric (covered below), it was awarded a $406.4m contract to modernize the G train.29
TC Electric (Private - Subsidiary of Iovino Enterprise (New York)
As part of the G train upgrade, TC electric will be the contractor.
Per its website, Iovino Enterprises, headquartered in Great Neck, NY, serves as the parent organization for a group of specialty contracting companies, including TC Electric (TCE), J-Track, Welkin Mechanical, and MLJ Contracting. These companies focus on public works and infrastructure projects, particularly in transit systems, heavy civil construction, and mechanical services.
L.K. Comstock & Co. (Private) (Subsidiary of the Railworks Corporation (Owned by Private Equity firm Bernhard Capital Partners)
As part of the 8th Avenue project with Siemens, Comstock, with equipment from Siemens, will upgrade trains that ride on this line (A,C,E). Incorporated in New York and describing itself as "North America's leading provider of rail infrastructure solutions," the parent company, Railworks, provides construction, rehabilitation, and maintenance services to rail systems.
c. Renew Power Systems
TL/DR: MTA needs a more reliable energy source
On December 11, 2024, a power outage caused by a fire and explosion at a century-old electrical substation in Brooklyn left thousands of New Yorkers stranded during the evening rush hour. The outage crippled service on the A, C, F, and G, forcing 3,500 passengers to endure hours of delays. Two F trains were trapped underground for nearly three hours, requiring emergency evacuation by the FDNY.
Explosion at a substation December 11, 2025
The subway system’s substations are critical for powering trains, signals, and other essential operations, but many of these facilities are decades or even a century old. A substation is a key component of the MTA’s electrical infrastructure, responsible for distributing and managing power for trains, signals, and other transit operations.
In essence, substations transform high-voltage electricity from utility sources into lower voltages suitable for operating subway systems. They also serve as hubs for power distribution, ensuring consistent energy delivery to tracks and stations, and also power CBTC technology (which requires reliable and consistent energy).
Aging equipment is prone to failures, like the one that caused this explosive outage, leading to widespread disruptions and safety risks. These substations are also inefficient and require frequent repairs, driving up maintenance costs and lengthening service downtimes.
Picture from MTA's 2025-2029 Capital Plan
Companies building substations
Skanska (Sweden - Nasdaq Stockhold: SKA B)
Skanska has had a long and significant relationship with the MTA, marked by its involvement in numerous high-profile infrastructure projects in New York City. Projects include:
Second Avenue Subway (Phase I)($337m)- Skanska was part of the S3 Tunnel Constructors joint venture for Phase I of the Second Avenue Subway project. This $337 million contract included tunneling work, station construction, utility relocation, and an electricity substation. The project was completed in 2010 and aimed to alleviate congestion on the Lexington Avenue line*
7 Line Extension ($1.1b) - Skanska played a key role in extending the No. 7 subway line to Manhattan’s Far West Side. As part of a $1.1 billion joint venture, Skanska constructed tunnels, a pump station, and other critical infrastructure. This project facilitated development on Manhattan's West Side and improved connectivity*. Below is an overview of Skanska's history, major projects with the MTA, and its role in shaping the city's transit system.
Jamaica Bus Depot ($480m)- In 2023, Skanska was awarded a $480 million contract to design and build a new LEED-certified Jamaica Bus Depot in Queens. This facility will support New York City's transition to an all-electric bus fleet and includes administrative buildings and modernized parking facilities*.
Escalator replacement ($146m) - Skanska has been involved in multiple contracts to replace escalators across several subway stations. For instance, a $146 million contract awarded in 2024 involves replacing 21 escalators and upgrading associated equipment at key stations*
Flushing Line Improvement ($200m) - In partnership with Railroad Construction Company, Skanska is working on a $200 million project to improve infrastructure on the Flushing Line (No. 7 train). This includes track bed restoration, platform repairs, and escalator replacements at stations like Woodside-61st Street*
Grand Central–42nd Street Station Upgrades -($74.2m) Skanska is executing a $74.2 million project to improve circulation at this major transit hub by constructing new stairways, widening existing ones, and upgrading fire alarm systems*.
Electrical Substations - Skanska has also worked on electrical substation projects for the MTA. For example, it is part of the joint venture constructing an underground power substation at West 28th Street to enhance subway power reliability*.
OHLA Group (Spain - Madrid Stock Exchange: OHL)
OHLA Group has a longstanding relationship with the MTA primarily through OHLA's U.S. subsidiary, Judlau Contracting, Inc. It's projects with the MTA include:
Accessibility Upgrades - In January 2024, Judlau was awarded a $577.2 million contract to install 18 ADA-compliant elevators and ramps at 13 NYC subway stations as part of MTA’s initiative to improve accessibility*.
Canarsie Tunnel Rehabilitation - Judlau completed the rehabilitation of the Canarsie Tunnel (L Train) three months ahead of schedule in 2020. This project addressed damage caused by Superstorm Sandy and introduced innovative construction techniques to minimize service disruptions*.
East Side Access Project - Judlau played a key role in excavating tunnels and constructing caverns for the East Side Access project, which connects Long Island Rail Road to Grand Central Terminal*.
Second Avenue Subway - Judlau was involved in constructing stations for the Second Avenue Subway line, one of NYC's largest subway expansions in decades*.
Structural Repairs: In 2022, OHLA secured a $94.7 million contract for painting and structural repairs on elevated subway lines in the Bronx*
Renewal of Avenue Z Substation on the Culver Line - Replacement of electrical equipment, civil restoration, and connection to tracks via a new cable bridge*
TAP Electric Contracting Service, Inc. (Private - New York)
Projects: Fabrication and installation of two pre-engineered substations at Clifton and New Dorp stations on Staten Island.
Scope includes new electrical services, traction power cables, and signal system integration*
Enovate Engineering (Private - North Carolina and New York)
Project: Canal Street Substation on the 8th Avenue Line
Scope: Construction of a below-grade substation with ancillary facilities, including integration with other substations in NYC Transit Zone*.
Hinck Electrical Contractors (Private - Long Island, NY)
Projects: Electrical work for the Ocean Avenue Substation as part of the Long Island Rail Road (LIRR) Design-Build program. Other substation projects, including Meadowbrook Substation*.
AI Engineers, Inc. (Headquartered in CT - ^^Registered in VA as a Foreign Corporation
Project: Mott Haven Substation for Metro-North Railroad (2019 - Present)
Scope: Replacement of antiquated signal power equipment, trenching for new duct banks, and commissioning of temporary mobile substations*
Ellana, Inc.
Project: LIRR Penn Station Traction Power Substation
Scope: Cost management and estimating for the replacement of an aging substation with flood mitigation strategies*
d. Single Source Vendors
Competition is for losers
Only one thing can allow a business to transcend the daily brute struggle for survival: monopoly profits.*
- Peter Thiel
The MTA sources many of its parts from a few suppliers. It's very transparent about this and encourages firms to enter its market.30 With no competition in these areas, we have to suspect that it's paying a premium for its needs. This is something I'll need to research further, but for now, I'd say these companies have a competitive advantage given New Yorkers' need to ride the subway.
Interestingly, the 14 single-source vendors listed by the MTA are all subsidiaries of 8 large companies, only two of which are American and only one of which is private.
Alstom (French - Euronext Paris: ALO)
Three Alstom subsidiaries are listed as single source vendors for several parts: Alstom Signaling Operation, LLC for switch and signal equipment and related parts; Alstom Transportation Inc. for traction motor, propulsion controller, undercarriage equipment, HVAC and car body parts for subway cars; and Alstom Transport USA Inc. for traction motor and propulsion controller parts for subway cars.
Cubic Transportation (Private - owned by Veritas Capital and Elliot Management)
Cubic Transporation's subsidiary Cubic Transportation Systems Inc., has implemented the Automatic Fare Collection system and is listed as the only company that provides its components.
According to a case study by Cubic, "Cubic Transportation Systems has been an MTA partner for nearly three decades. Cubic designed and delivered the original MetroCard system, including gates and turnstiles, in 1993." In 2017, Cubic won a $539m contract to install electronic payment systems.
Sidenote: More about Cubic Transporation: The Intercept: Meet the Military Contractor Running Fare Collection in New York Subways — and Around the World
Hitachi (Japan) (TYO:6501; NAG: 6501)
Likely due to its modern signaling tech, Hitachi's subsidiary Hitachi Rail STS USA, Inc. is listed as the only one providing switch and signal equipment and related products.
Kawasaki Heavy Industries Ltd. (Japan)(Tokyo Stock Exchange: 7012)
Likely as part of its railcars, Kawasaki's Railcar Inc. is listed as the only source for Car Body Parts, Undercarriage Equipment, Door Operator Parts and Trainline Control Equipment for Subway Cars
Volvo Group (Swedish - Nasdaq: VOLV)
Its subsidiary Nova Bus/Prevost Bus is supplying the MTA with electric buses and is listed as the only company providing parts, I think, for these buses.
Brake-Bremse AG (German - Frankfurt Stock Exchange: KBX)
Two Knorr-Bremse subsidiaries are listed as single source vendors: Knorr Brake Company LLC for air brake parts for subway cars and Westcode inc. for air brake, door operator and HVAC parts for Subway Cars.*
NFI Group (Canada - Toronto Stock Exchange: NFI)
Three NFI Group subsidiaries are listed as single source vendors for bus parts: New Flyer Industries, Motor Coach Industries, and Orion Industries. These parts are likely for New York's electric buses, which New Flyer is providing.
Westingtonhouse Air Brake Technologies Corporation (Wabtech) (American)(NYSE: WAB)
Four Wabtech subsidiaries are listed as single source vendors: Vapor Stone Rail Systems for door operator parts and HVAC parts for subway cars; Wabtech Global Supplies for propulsion and car body parts for subway cars; Wabtech Passenger Transit for air brake, undercarriage equipment and coupler parts for subway cars; and Transtech for current collector parts for subway cars.
New York Times, The Most Expensive Mile of Subway Track on Earth, by Brian M. Rosenthal, Dec. 28, 2017, link here.
Id.: “First, the contractors said, the vendors add between 15 and 25 percent as an “M.T.A. Factor” because of how hard it can be to work within the bureaucracy of the transit authority. Then they add 10 percent as a contingency for possible changes. And then they add another 10-12 percent on top of all that for profit and overhead.”
As of the date this article was published, State Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie rejected the proposal, claiming that $33 billion of the proposed funds didn't have a dedicated revenue source. See The MTA capital plan is rejected. What does that mean?, City & State, by Rebecca C. Lewis, Dec. 26, 2024, link here.
This has happened before. The last time this occurred was at the end of 2014 when the MTA Capital Review Board rejected then-governor Cuomo's 2015-2019 Capital Plan, which proposed $32 billion. After a year and a half of negotiating, the capital program was finally approved at the lower amount of $29.5 billion. If we use history as a guide, the current capital plan's price tag may be lower.
Kawasaki Heavy Industries is a publicly traded company on Tokyo's Stock Exchange (listed as 7012).
Especially since investing in a company based solely on its contracts in New York is risky.
Transcript: Mayor Adams and NYPD Commissioner Tisch Announce Crime Down in 2024, Jan. 6, 2024, link here. Two crime categories, though, like sexual assault and felony assault, have not fallen. We should also consider the role of the media in fanning the flames of crime.
Whether this should be accomplished by increasing police or involuntarily institutionalizing mentally disturbed individuals is up for debate. We should also consider how certain media companies fan the flames of crime. These are all topics I plan to cover soon.
As a new parent having to stroll around my daughter, I’ve gained a deeper appreciation for accessibility.
You can view the MTA’s plan here.
MTA Capital Plan 2025-2029, p. 38.
https://www.trains.com/trn/news-reviews/news-wire/kawasaki-ceremony-marks-5000th-railcar-for-u-s-market/
https://global.kawasaki.com/en/corp/newsroom/news/detail/?f=20221027_7750
https://www.railjournal.com/regions/north-america/kawasaki-chosen-for-us-14bn-new-york-subway-car-order/
https://new.mta.info/press-release/mta-votes-order-hundreds-more-cutting-edge-r211-subway-cars
https://global.kawasaki.com/en/corp/newsroom/news/detail/?f=20221027_7750
https://www.nyserda.ny.gov/-/media/Project/Nyserda/Files/Publications/PPSER/Program-Evaluation/2016ContractorReports/Alstom-Transportation-cs.pdf
https://www.alstom.com/press-releases-news/2023/4/alstom-awarded-operations-and-maintenance-contract-maryland-transit-administration
https://www.mobility.siemens.com/us/en/company/newsroom/press-releases/mta-metro-north-orders-six-additional-locomotives-from-siemens-mobility-for-connecticut-department-of-transportation.html
https://www.newsday.com/long-island/transportation/mta-dual-mode-locomotives-gunit2p0)[*](https://new.mta.info/document/160196
https://www.newsday.com/long-island/transportation/mta-dual-mode-locomotives-gunit2p0
https://www.bizjournals.com/albany/news/2017/01/23/sepsa-chair-sees-big-opportunities-for-subway-rail.html
From Sepsa's website: Specialized in the design, manufacture, and commercialization of Power Electronics (static power converters and battery chargers) and On-Board Systems (PACIS, control systems, and other embedded systems) equipment for trains, subways, and streetcars.
https://metalsolutionsinc.com/industries-served/mass-transit/
https://new.mta.info/project/cbtc-signal-upgrades
https://press.siemens.com/global/en/pressrelease/siemens-automates-new-york-subway-line
https://www.masstransitmag.com/rail/railroad-signals-ptc-control-systems-and-products/press-release/21121203/mta-new-york-city-transit-mta-moves-forward-with-signal-modernization-of-eighth-avenue-ace-lines
https://www.thalesgroup.com/en/united-states/press-release/400000-daily-riders-new-york-city-subway-flushing-line-rely-thales
https://www.thalesgroup.com/en/worldwide/transportation/press-release/thales-selected-new-york-metropolitan-transportation
https://new.mta.info/document/114211
https://new.mta.info/doing-business-with-us/procurement/new-york-city-transit/sole-source