The New York authorities approved the construction of a new WTC

New York - New York authorities have officially approved the construction of a new World Trade Center (WTC), the original buildings of which were destroyed in the terrorist attacks in September 2001. Entrepreneur Larry Silverstein now has four and a half years with a one-year extension to build towers two, three, and four or he will lose the lease on the site. Silverstein leased the WTC for 99 years just a few months before their destruction.
    The agreement with the entrepreneur was approved by the administrations of New York and New Jersey at their regular monthly meeting. The office also agreed that it will pay Silverstein $300,000 per day if he fails to prepare the site for new construction by the agreed deadlines.
    The contract is still awaiting the completion of several documents. Assuming they can be obtained quickly, construction will be completed in 2012, which Silverstein has promised. The tallest building, One World Trade Center, is expected to stand on the Ground Zero site in 2011, and its spaces are to begin being leased the following year.
    The project was not developed without disputes. The issue was particularly sensitive because almost three thousand people died at the site five years ago due to the attacks by planes hijacked by Islamic fundamentalists. The architectural design and memorial also sparked sensitive discussions. However, the biggest battle took place over the billions of dollars in insurance, Reuters reported.
    The first rebuilt skyscraper after the attacks was opened by Silverstein in May of this year. The original building named 7 World Trade Center was located near the WTC. It was built in 1987 and was ten stories shorter. It collapsed after debris from the burning "twin towers" fell on it.