AAPA, MARAD complete investment toolkit
The American Association of Port Authorities (AAPA) and the US Department of Transportation’s Maritime Administration (MARAD), together with a host of industry experts, have completed their Port Planning and Investment Toolkit (PPIT) to help ports better compete for funding.
The PPIT now includes two additional sections to help US port authorities plan, invest in and implement critical infrastructure projects.
This includes a new Planning Module, providing clearly defined steps and requirements of the planning process needed for successfully financing a project, and a Feasibility Module, including approaches for measuring and evaluating the benefits and costs of project alternatives created during the planning stage.
The existing Financing Module has been revised to include different approaches for evaluating project funding and financing strategies, and identifying ways to obtain grant funding and public/private funding as well as examples of financing strategy solutions designed to address a variety of needs.
Kurt Nagle, president and chief executive of AAPA, said: “AAPA recognised the infrastructure project needs and funding concerns faced by America’s ports. To help solve these challenged, we jointly brought together a host of experts to develop an easy-to-read, easy-to-understand, and easy-to-execute resource to help ports get to the point of bidding out a plan for the modernisation and upgrades they need to handle both their current and future demands.”
MARAD’s executive director Joel Szabat added that the development and enhancement of the PPIT is a “crucial component in the continued growth of our nation’s economy”. “Forward thinking and planning will enable our ports will enable our ports to further support jobs, trade and commerce for American communities,” he said.
For more information about the PPIT, visit https://www.marad.dot.gov/ports/strongports/.
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