The New York Thruway Authority Board of Directors has approved the selection of the Design-Build team that will complete the installation of cashless tolling on the Thruway system-wide by the end of 2020.

Cashless Tolling Constructors, LLC submitted the Best Value proposal, which will be submitted to the New York State Comptroller's Office for approval.

Governor Andrew Cuomo says the $335 million investment includes the implementation of cashless tolling and the removal of existing toll booths at 52 Thruway interchanges.

Cuomo says the more than 267 million motorists who use the Thruway each year will enjoy non-stop, streamlined travel.

"New York State is making historic investments building a modern transportation network worthy of the 21st century and beyond," Cuomo said. "By investing in technology like cashless tolling, we are creating a safer, greener and less congested Thruway system and ensuring our transportation infrastructure is capable of supporting New York's growing economy."