"This main funding within the Port Infrastructure Growth Program will assist strengthen, modernize and enhance the marine methods and gateway ports of our nation," mentioned Transportation Secretary Elaine Chao.
The $ 292.7 million discretionary grant goals to assist public coastal ports by enhancing the protection, effectivity and reliability of products actions.
Investments in port transportation infrastructure shall be allotted on a aggressive foundation to initiatives situated both inside the limits of a coastal port, or outdoors the boundaries of a coastal port, and relate on to port operations or an intermodal port connection.
The ministry will consider initiatives utilizing standards similar to acquiring federal funds, undertaking prices and advantages, undertaking outcomes, undertaking readiness and nationwide preferences. It can additionally have in mind geographical variety when choosing beneficiaries.
The minimal grant quantity is US $ 10 million, with a federal share of prices not exceeding 80%.