The additional $2 million comes on the heels of the Department of Defense’s recent announcement of the availability of $50 million for Guam’s Port Authority, allowing for the approval of a $54.5 million loan from the U.S. Department of Agriculture to repair and modernize Guam’s port facilities.
“This funding further demonstrates Guam’s importance and the federal government’s view that the island be prepared to accommodate the upcoming growth in commerce due to the relocation of U.S. Marines from Okinawa, Japan,” Babauta said.
“The port facilities on any island are crucial when growth in the economy is anticipated; over the next decade, Guam will see a movement of goods and services exceeding $12 billion. Guam Gov. Felix P. Camacho has directed the Guam Port Authority to have an aggressive plan to repair, modernize, and transform its facilities into an operation with world-class standards and I’m pleased to be working with Guam Congresswoman Madaleine Z. Bordallo to identify and provide assistance toward that end.”
The grant will allow the Port Authority of Guam to contract professional consultants to carryout topographic surveys, to upgrade the Port’s crane and terminal operating system, and for dredging and reclamation planning.
These funds will be further leveraged with Guam Port Authority’s Modernization Program matching funds to create a longer-term, sustainable financing mechanism. The Port was originally constructed by the U.S. Navy in the 1969 and turned over to GovGuam in the 1970s.
