Amtrak gets $450M toward 'Gateway' project

Amtrak is getting $450 million in federal funding to upgrade its rail infrastructure and improve its service between New York and Washington, transportation officials said Monday.

The funding is geared toward the eventual "Gateway" project, which will construct new rail tunnels into Penn Station.

"With this investment by the Obama administration, the Amtrak vision for high-speed rail in the Northeast is now departing the station and heading down the tracks to help take America to the next generation of passenger service," Amtrak president and chief executive Joe Boardman said in a statement.

The $450 million will go toward upgrading electrical power, signal systems, track and overhead catenary wires along Amtrak's busy Northeast Corridor, which includes New York, New Jersey, Boston, Philadelphia and Washington.

The project also includes reconfiguring track switches at Penn Station's western entrance to help relieve congestion issues. The anticipated completion date is in September 2017.

After the upgrades, Amtrak's top speeds will increase from 135 mph to 160 mph along a 24-mile section of track, officials said.

By 2018, with new equipment acquisitions and the rail upgrades, six more Acela Express high-speed round trips between New York and Washington will be added.

In addition to the $450 million received by Amtrak, several states were awarded $345 million for other Northeast Corridor projects, "each of which are vital for the reliability and capacity of the current network," Amtrak said.