St. Louis receives $15.6 million for dock repair
Missouri's Port of St. Louis received a $15.6 million grant from the U.S. Commerce Department's Economic Development Administration to help rebuild the south dock, which was heavily damaged by last year's Mississippi River flooding.
'Although steps were taken to address that damage, it's been predicted that, without significant repairs, the dock could totally collapse within two years ' crippling area shipping,' said Commerce Secretary Gary Locke, during a speech in St. Louis.
According to the St. Louis Dispatch, a port authority loan will provide $3.9 million match to the Commerce Department grant.
In addition, a $32 million grant application is pending with the Transportation Department. 'That money would be used to connect a repaired south dock to the existing north dock' The city hopes to find out next month if it will get the Transportation Department grant,' the newspaper reported.
'We know that once the Panama Canal expansion is complete in a few years, larger ships from all over the world are going to come through the east side of the canal with high-value goods in containers,' Locke said. 'These ships are going to make their way up the Mississippi. And it's critical for St. Louis, and for the region, that the municipal river terminal be in a position to handle this cargo.'