{"id":14859,"date":"2020-03-24T08:53:53","date_gmt":"2020-03-24T08:53:53","guid":{"rendered":"http:\/\/www.felana.com.mx\/eng\/port-of-houston-will-expand-terminal-with-21-8-million-federal-grant\/"},"modified":"2020-03-24T08:53:53","modified_gmt":"2020-03-24T08:53:53","slug":"port-of-houston-will-expand-terminal-with-21-8-million-federal-grant","status":"publish","type":"post","link":"https:\/\/www.felana.com.mx\/eng\/port-of-houston-will-expand-terminal-with-21-8-million-federal-grant\/","title":{"rendered":"Port of Houston Will Expand Terminal with $21.8 Million Federal Grant"},"content":{"rendered":"

Over the years, increased demand at the Port of Houston, one of America\u2019s busiest ports, has led to a need to expand the Port.<\/span><\/h4>\n

Now, thanks to the U.S. federal government, expanding the Port of Houston just got a lot more practical. The U.S. government has provided a federal grant worth $21.8 million that will partially fund the needed expansion. Specifically, this new grant will help cover the costs for a 20 percent increase in volume at the Bayport Container Terminal.<\/p>\n

In recent years, cargo volume has grown by as much as double digits at the Port of Houston, making an expansion necessary.<\/span><\/h4>\n

The required expansion is expected to cost nearly $55 million. The federal grant provided to the port will cover about 40% of that cost. When the expansion is complete, existing vacant land at the port will become Wharf 6, a new wharf that will expand berth space at the port. According to JOC.com, the rest of the projected cost of the expansion project will be funded through Texas-based entities, as opposed to the federal government.<\/p>\n

The U.S. Department of Transportation (DOT) has funded the grant through the Department\u2019s Maritime Administration, also known as MARAD. The agency also funded 14 other projects announced last week, for a total grant amount of nearly $300 million as part of the agency\u2019s Port Infrastructure Development Program, which seeks to upgrade port infrastructure along the U.S. coasts.<\/p>\n

Growth at the Port of Houston has been led for the last several years by strong resin demand. In the beginning of 2019, the port was considered the fastest-growing in the U.S., propelled by resin growth and general demand. Growth is projected to continue in 2020 and beyond.<\/p>\n