A Feasibility Cost Share Agreement (FCSA) signed June 15 by the U.S. Army Corps of Engineers and the Virginia Port Authority commits each side to sharing the cost of evaluating the benefits of deepening of the Norfolk Harbor to a depth beyond 50 feet and the Elizabeth River’s Southern Branch to 45 feet.
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The Massachusetts Port Authority (Massport) board has approved a Business Plan and Budget for Fiscal Year 2016 of $667 million. Massport says the budget reflects its commitment to safety and security at its facilities, customer service at Boston Logan International Airport, supporting initiatives in neighboring communities, and improving the financial performance of maritime operations. Thanks in part to record container throughput, the Port of Virginia reports earning a $4.5 million operating profit in May, its best monthly financial result of the fiscal year that closes June 30.
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