The Port of Houston Authority in Texas, US, has set a budget of $275 million for 2018 to fund new projects and continue its solid financial performance.
Port Houston has projected that it will reach 2.4 million TEU by the end of 2017 and that its operating cash flow will increase in 2018 due to the Houston Ship Channel’s new resin production.
Its 2018 capital improvement program includes strategic project investments supporting new growth opportunities, recapitalization projects to help sustain high service and enhance productivity levels, and channel development projects for development at container terminals and dredged area material program (DAMP).
Following a Port Commission meeting to approve the Fiscal Year 2018 Operating and Capital Budget, Port Houston Executive Director Roger Guenther noted that the port had set an unprecedented time for processing containers this year by surpassing two million TEU in October.
The port first reached the two-million TEU mark in 2015.