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New Jersey Transit recently awarded a $43.5 million contract to Conti Enterprises Inc. to build the Port Imperial Inter-Modal Ferry Terminal, which is designed to enable passengers to transfer between the Hudson-Bergen light-rail line and ferry terminal.

The agency also awarded a $1 million contract to ferry operator New York Waterway to assist with the construction.

Scheduled to be complete in 2006, the terminal would be located adjacent to the Hudson-Bergen Light Rail Port Imperial Station, which is expected to open next year. The terminal will enable New York Waterway to increase service between Weehawken, N.J., and New York City.

NJ Transit has acquired the property to build the terminal, and will lease it to New York Waterway for 32 years.