PORT OF LONG BEACH BUDGET APPROVED
The Long Beach Board of Harbor Commissioners has approved the Port of Long Beach's new fiscal year budget of $588.4 a 9-percent increase over the year-earlier budget.
The budget includes appropriations for a number of terminal improvement and development projects:
* the port has set aside $105.1 million for a 375-acre terminal project at the former Long Beach naval complex on Terminal Island. The first 260 acres of the “Pier T” terminal, leased to Hanjin Shipping, is scheduled to open in the spring.
* An extra $31.5 million will be used to partly pay for 12 ship-to-shore gantry cranes for the terminal.
* The port has also budgeted $121.1 million for the development of a 160-acre terminal north of the former naval complex on Terminal Island.