US Government Announces Major Port Investment
The US Department of Transportation (USDOT) has announced that it will invest USD $292.7 million as part of a port infrastructure development programme.
According to a statement, this initiative aims to improve the safety, efficiency and reliability of goods movement through the nation’s public coastal ports.
Funding from the government will be awarded on “a competitive basis” to projects located either within the boundary of a coastal seaport, or projects outside the boundary that still relate directly to port operations.
Dr. Noel Hacegaba, Port of Long Beach, discusses supply chain efficiencies in a recent Port Technology technical paper
USDOT will also evaluate each potential investment with the support of a specific criteria, including how the proposed project will leverage federal funds, its costs and benefits, the potential outcome and its readiness to begin development.
In addition to this, USDOT will consider geographic diversity when selecting the recipients of its investment.
Of the $292.7 million funding available, $92.7 million will be injected into 15 seaports that handled the largest volume of containers in 2016, as identified by the U.S. Army Corps of Engineers (USACE).
The department will also offer funding to one project that advances a range of different outcomes, such as improving safety with the help of technology and promoting efficient energy trade.
Elaine L. Chao, U.S. Transportation Secretary, said: “This major investment in the Port Infrastructure Development Program will help strengthen, modernize, and improve our country’s maritime systems and gateway ports.”