Business and Finance

PORT OF LONG BEACH APPROVES BUDGET AND PREPARES FOR DREDGING BID

On June 2 the Long Beach Board of Harbor Commissioners approved an $829 million budget for the Harbor Department’s FY 2016. The budget includes more than a half a billion dollars for capital improvements at the port with $555 million designated for capital investments namely the port’s major terminal redevelopment and bridge replacement projects.

Port of Long Beach spokesperson Lee Peterson said the port is about the put a dredging project out to bid for the its ongoing Middle Harbor Terminal Redevelopment program as part of the FY16 budget. Lee said the berths along the Pier T container terminal will be dredged to 55 feet and the material will be placed in the port’s Middle Harbor East Basin fill area. The inner harbor turning basin will also be dredged to 52 feet with the material going to the same area. The port said this work is anticipated to begin in November 2015 with a $46 million estimated construction cost. The project is estimated take about 17 months to complete.