Friday, 08 June 2018 11:03

Port of LA approve $1.3B in spending

513 LA

The Los Angeles Board of Harbor Commissioners has approved a $1.3 billion budget for the Port of Los Angeles for the ensuing year. The budget focuses on priorities set out earlier this year in the Port’s revised 2018-2022 Strategic Plan, which calls for a focus on growth-supporting infrastructure; security, supply chain efficiency and sustainability; improved financial performance of port assets; and building strong relationships with port stakeholders. In the approved budget, $91.0 million is dedicated to Capital Improvement Projects (CIP), a 6.9% decrease over the previous fiscal year. Of that amount, $31.6 million will go toward terminal improvements, primarily focused on upgrades to better accommodate larger vessels and facilitate more efficient cargo-handling processes.

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