Second round of INFRA investment on horizon

The U.S. Department of Transportation expects to offer up to $902.5 million for its Infrastructure for Rebuilding America grant program in fiscal year 2019.

Second round of INFRA investment on horizon

The U.S. Department of Transportation expects to offer up to $902.5 million for its Infrastructure for Rebuilding America grant program in fiscal year 2019.

Second round of INFRA investment on horizon

The U.S. Department of Transportation expects to offer up to $902.5 million for its Infrastructure for Rebuilding America grant program in fiscal year 2019.

 
The U.S. Department of Transportation has announced its preparation for a second round of its Infrastructure for Rebuilding America (INFRA) discretionary grant program.
    INFRA is expected to offer between $855 million and 902.5 million, subject to funding provided by fiscal year 2019 appropriations, for infrastructure restoration projects.
    The program facilitates grants established in the 2015 Fixing Americas Surface Transportation (FAST) Act and uses criteria that allows DOT to evaluate projects based on their economic significance and include public-private partnerships. It also promotes the inclusion of new technologies in transportation infrastructure.
    In addition, DOT said INFRA recipients are held “accountable for their performance in project delivery and operations.”
    “By creating the right incentives, this program will be better able to make significant, long-term improvements to America’s transportation infrastructure,” said Transportation Secretary Elaine Chao in a statement.
   INFRA grants involve both large and small infrastructure projects. Large project grants must be a minimum of $25 million, while small projects are at least $5 million. At least 10 percent of the funds are reserved for small projects and 25 percent of INFRA grants are set aside for rural projects.
    “For rural communities in need of funding for highway and multimodal freight projects with national or regional economic significance, INFRA is an opportunity to apply directly for financial assistance from the federal government,” DOT said.
    In 2018, INFRA grants in the amount of nearly $1.5 billion were awarded to 26 projects.
    A notice of funding opportunity, which was published in the Federal Register, will remain open through March 4.
Last year a total of 26 containerships of at least 18,000 TEUs were delivered to carriers, the most since these so-called ultra-large container vessels (ULCVs) first hit the water in 2013. All of the aggregated capacity of 525,500 TEUs that arrived in 2018 was deployed in the Asia-North Europe trade.
Spot container rates from Shanghai to the U.S. West Coast stood at $2,114 per FEU as of Jan. 18, while rates from Shanghai to the U.S. East Coast totaled $3,187 per FEU, up 11.6 percent and 4.8 percent, respectively, from a week prior, according to the Shanghai Containerized Freight Index.
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