Port of Long Beach Approves Nearly $1 Billion for Projects
For the fiscal year starting October 1, 2018, the Harbor Department plans to spend $695 million on capital projects including the ongoing Gerald Desmond Bridge Replacement Project and Middle Harbor Terminal Redevelopment at a cost of $333 million.
The budget projects operating revenue of more than $399 million, 5.2% higher than the previous fiscal year.
Lou Anne Bynum, President of the Long Beach Harbor Commission, said: “The budget reflects the port’s trademark careful planning and fiscal responsibility as we engage in the most active capital improvement program of any US seaport.
“The Port will remain a vital economic engine for both the regional and national economies as we continue to strengthen the port’s competitiveness.”…
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