View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. News
December 24, 2021

MARAD awards $241m financial package for US ports

PIDP has granted $492m for 32 projects during its first two years.

The United States Maritime Administration (MARAD), an agency of the US Department of Transportation, has allocated over $241m in discretionary grant funding for 25 projects to enhance port facilities in 19 states and one territory.

This grant is being awarded through MARAD’s Port Infrastructure Development Programme (PIDP). 

The funding is expected to fortify the country’s supply chains as well as address inflationary pressures.

At present, PIDP has reached its third year and already granted $492m for 32 projects during its initial two years.

This programme enables ports and industry stakeholders to enhance facility and freight infrastructure for meeting the country’s freight transportation requirements.

Besides, it offers planning, operational, and capital financing, along with project management assistance for increasing the capacity and efficiency of the ports.

The projects that have secured the financial aid cover coastal seaports, Great Lakes ports, and inland river ports.

In a statement, US Department of Transportation said: “By announcing these grant awards now, the Department is making good on a promise in the Biden-Harris Port Action Plan that will take actions to address supply chain disruptions by helping to increase Federal flexibilities for port grants; accelerate port infrastructure grant awards; initiate new construction projects for coastal navigation, inland waterways, and land ports of entry; and launch the first round of expanded port infrastructure grants funded through the Bipartisan Infrastructure Law.”

Bayport Container Terminal Expansion project in Texas has secured $18m, which will be used to expand the capacity to 2.3 million TEUs.

Colonel’s Island Berth project in Georgia has been awarded $14m.

Under this project, a fourth roll-on/roll-off (Ro-Ro) vessel berth will be established at the Port of Brunswick’s Colonel’s Island Terminal.

Louisiana-based Port Resiliency Improvements project has won $2m.

This project encompasses a dock restoration project, along with the development of an industrial fabrication centre at the port.

Furthermore, Improving Vessel Access for Sustained Viability project in Michigan and Off-Dock Container Support Facility project in Washington have secured the financial aid from MARAD.

Earlier this month, MARAD granted $12.6m to nine marine highway projects across the country.

Related Companies

NEWSLETTER Sign up Tick the boxes of the newsletters you would like to receive. The top stories of the day delivered to you every weekday. A weekly roundup of the latest news and analysis, sent every Friday. The industry's most comprehensive news and information delivered every month.
I consent to GlobalData UK Limited collecting my details provided via this form in accordance with the Privacy Policy
SUBSCRIBED

THANK YOU

Thank you for subscribing to Ship Technology