Anchorage secures $25M grant for Port of Alaska

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Anchorage is getting a $25 million shot in the arm to help rebuild its long beleaguered port.

Municipal officials announced Nov. 6 that they will receive a $25 million grant from the federal Department of Transportation to help complete the $214 million petroleum and cement terminal the Anchorage Assembly approved construction of earlier this year.

The money is coming from the federal agency’s Better Utilizing Investment to Leverage Development, or BUILD, Grant program.

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