The Port of Alaska has received a $25 million Better Utilizing Investment to Leverage Development (BUILD) Grant from the U.S. Department of Transportation (DoT) that will go towards completing a new petroleum and cement terminal.
The Municipality broke ground on the $214 million terminal this summer with $134 million in state and federal dollars on hand, leaving $80 million needed to complete the project.
“The additional $25 million solves a critical piece of the missing money problem and gives us a high degree of confidence that we will complete the new terminal in 2021,” said Municipal Manager Bill Falsey.
The Anchorage Assembly will soon be reviewing a port-tariff change proposed by the Port Commission that will allow the Port of Alaska to raise the remaining funds.
The timely construction of a new petroleum and cement terminal is critical for the security and economy of the entire state. Approximately 80 per cent of all the cement in Alaska comes through the Port of Alaska. All of the fuel supplying JBER and 50 per cent of the fuel used at Ted Stevens International Airport flow through the Port.
Port of Alaska staff developed and submitted the grant application for this highly competitive grant program this summer. Almost $10 billion in project applications competed for a pot of money less than $1 billion. The Port received letters of support from the congressional delegation, Alaska Command, the MatanuskaSusitna Borough, Alaska Basic Industries, Alaska Airlines, Alaska Trucking Association, the Anchorage Economic Development Corporation, the Anchorage Metropolitan Area Transportation Solutions organisation, CIRI, North Star Terminal & Stevedore Co., The Northwest Seaport Alliance, and Olympic Tug and Barge.
For more information visit www.portofalaska.com