The U.S. Army Corps of Engineers has announced that the Port of Los Angeles would receive government funds this year to maintain its harbour channels and restore its wharves.
The Port of Los Angeles estimates the total need for navigation maintenance and repair projects at $6.7 billion.
The federal 2024 Fiscal Year allocation of approximately $58 million to the Port of Los Angeles is a nearly tenfold increase compared to the $6 million it received in 2023 and marks the full implementation of these reforms.
According to the Port of Los Angeles, importers pay a 0.125 per cent tax on the value of their goods to support maintenance initiatives on the country’s navigable rivers, which maintain the safe flow of commerce.
In addition to dredging, pending projects include seismic safety upgrades, wharf and fender repairs, pile replacements, sediment removal and remediation, and improvements to slips and channels.
California Sen. Alex Padilla, said: “The San Pedro Bay ports move 40 per cent of the nation’s container imports, transporting the goods that power our economy.
“I am glad to see the Army Corps heed my call to fund these crucial upgrades for the Port of Los Angeles that will bolster global supply chains and make long overdue repairs.”
Port of Los Angeles Executive Director, Gene Seroka, stated: “We’re so appreciative to all of our Congressional advocates – past and present – and we’ll immediately put this funding to good use.
“We have important harbour infrastructure projects in the pipeline and this funding will go a long way to accelerating these repairs and ensuring the Port of Los Angeles’ infrastructure remains world class.”
In March, the Port of Los Angeles recorded a container throughput of 743,417 TEU, a 19 per cent increase over the previous year.