Alaska Journal of Commerce
By: Elwood Brehmer
Anchorage is getting a $25 million shot in the arm to help rebuild its long beleaguered port.
Municipal officials announced Nov. 6 that they will receive a $25 million grant from the federal Department of Transportation to help complete the $214 million petroleum and cement terminal the Anchorage Assembly approved construction of earlier this year.
The money is coming from the federal agency’s Better Utilizing Investment to Leverage Development, or BUILD, Grant program.
Anchorage Municipal Manager Bill Falsey said in a formal statement that the lump sum helps fill a significant funding gap and gives officials overseeing the Port of Alaska modernization project plenty of confidence that they will be able to complete the petroleum and cement terminal in 2021.
Port of Alaska Director Steve Ribuffo thanked the congressional delegation in a formal statement as well.
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