Saturday, November 4, 2023

Biden Allocates $653 Million To American Port Development Projects, 4 NOV

 Biden Allocates $653 Million To American Port Development Projects

Arab and international  Economy News - follow-up  The US Department of Transportation provided $653 million in grants to develop and improve forty-one seaports throughout the United States .

The grants are part of a trillion-dollar infrastructure investment included in a bipartisan law signed by President Joe Biden in 2021 .

Biden administration officials said that the projects that receive support will allow ports to meet larger shipping demands, in addition to reducing costs for consumers and improving worker safety conditions .

Transportation Secretary Pete Buttigieg said during a phone call with reporters that supply chain challenges, starting in 2021, have led to higher prices as the United States recovers from the Corona epidemic .

Buttigieg added that the goal of the projects is to improve port infrastructure so that it can withstand the types of shocks that the United States witnessed during the pandemic .

He said: “Our goal is to strengthen these supply chains in a sustainable way. Today’s announcement is another big step in this direction .”

The grants included $43.4 million to renovate a pier in Cold Bay, Alaska .

The Port of Long Beach in California will receive $52.6 million for various developments, including an extension of the rail network to help transport freight .

Thirty-two million dollars will be allocated to the Port of Newark, New Jersey, to rebuild the dock .

Views 32    Added 11/04/2023 - 4:45 PM   https://economy-news.net/content.php?id=37239

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