21 Oct 2010

Port Authority of Guam celebrates 35th anniversary

12:23 pm on 21 October 2010

The Port Authority of Guam is celebrating its 35th anniversary by hosting weeklong celebrations this week.

Port Authority's chairman of the board, Monte Mesa, says the Port is earning its financial creditability for the loan by the U.S. Department of Agriculture.

The Port soon will have access to 50 million US dollars of funding from the Department of Defense and an additional 54.5 million dollar loan from the USDA that has yet to be awarded.

The amount will fund the first phase of the Port's modernization programme and construction for it is to begin in mid-to late-2011 until 2014.

The Pacific Daily News reports the port's week long celebration ends tomorrow.