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Biden allocates $653 million to American port development projects
US President Joe Biden signing the infrastructure bill
Arab and international
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Added 11/04/2023 - 4:45 PM
https://economy-news.net/content.php?id=37239
US President Joe Biden signing the infrastructure bill
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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