Second Avenue Subway construction equipment carries major costs

Posted by IronPlanet on May 31, 2012 5:24:00 AM

One of the largest public construction projects in American history is underway in New York City, where workers are expanding the city's subway system for the new Second Avenue Subway.

The expansion has been talked about for nearly 40 years, and early estimates say the price tag of the project will be nearly $4.5 billion. With such a large bill, CNNMoney recently looked into what would cost the city so much to ultimately build a line that will result in just four stops added to the city's subway system.

The answer lies in how complex subway construction can be. Building tunnels underground without disturbing what's above isn't exactly easy, and requires some very specialized construction equipment, according to the news source. Even those who work in construction for a living may not be familiar with the type of equipment these companies need to work underground.

For example, hydraulic drill jumbos and load-haul-dump loaders cost nearly $800,000 a piece - and the crews need quite a few of these. One piece of equipment in particular carries an enormous price tag to complement its gigantic frame. The two-story tunnel-boring machine takes 20 people to operate and costs $12 million.

Tom Peyton of construction management company Parsons Brinckerhoff tells the news source the cost is ultimately worth it for the people of New York.

"Everything is big [and] costs money. But everything we do costs money," Peyton said. "In 2016, when we swipe our card and ride our first train - it's gonna feel real good."

Fortunately for contractors, most construction equipment is much more affordable. Those looking to save money on their equipment should consider the online auction site IronPlanet. All equipment sold by IronPlanet is backed by IronClad Assurance, which allows buyers to view full inspection reports before they bid.

Topics: Construction, Industry Headlines