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SEPTA halts King of Prussia rail project due to rising costs, underfunded capital budget

by Index Investing News
March 18, 2023
in Property
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The Southeastern Pennsylvania Transit Authority said Friday that it is pausing all work on the King of Prussia Rail Line due to rising costs and a lack of flexibility in its capital budget.

The regional transit system said in a statement that increasing costs on the project have been worsened by inflation and high interest rates.

SEPTA said it is hitting the brakes on the KOP Rail Line after it received notification from the Federal Transportation Administration that the project was not recommended…



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Tags: budgetCapitalCostsdueHaltsKingProjectPrussiarailrisingSEPTAunderfunded
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