US to Inject USD 292 Mn into Its Ports
The United States has decided to invest USD 292.7 million through the new Port Infrastructure Development Program with the aim of developing the country’s ports.
According to the U.S. Department of Transportation (DOT), the new program aims to support public coastal ports by improving the safety, efficiency, or reliability of goods movement into, out of, or within a port.
“This major investment in the Port Infrastructure Development Program will help strengthen, modernize, and improve our country’s maritime systems and gateway ports,” Elaine L. Chao, U.S. Transportation Secretary, said.
Investments in port transportation infrastructure would be awarded on a competitive basis for projects located either within the boundary of a coastal seaport, or outside the boundary of a coastal seaport, and directly relate to port operations or to an intermodal connection to a port.
The USD 292.7 million funding includes USD 92.7 million to be invested in 15 coastal seaports that handled the greatest number of loaded foreign and domestic TEUs in 2016.
The deadline to submit an application for the Port Infrastructure Development Program is September 22, 2019.