According to boston.com, the plans to dredge the Port of Davisville at Quonset Point for the first time in several decades are moving ahead.
This $7.5 million project could begin as early as October.
The Rhode Island Economic Development Corp. approved $7.5 million in bonds to pay for the dredging.
This project, which entails dredging the channel depth adjacent to the Davisville piers to 32 feet, requires no taxpayer funding. The financial obligations for the dredging will be met completely by the QDC through operating funds at the Business Park and increased revenue from the Port. To support the dredging project, QDC projects annual debt service of approximately $900,000 over 10 years. The Davisville channel has not been dredged since its original construction in the 1940’s.
“Quonset Business Park is home to more than 8,800 jobs at 168 companies and the Port of Davisville is now the 7th largest auto importer in North America. In order to maintain our momentum and continue the growth, this dredging project at the Port of Davisville, which comes at no cost to the taxpayers, is essential,” said Steven J. King, PE, managing director of the QDC. “When the dredging is complete, the Port of Davisville will have the ability to continue to grow it’s roll-on/roll-off business, and we can expand the Port’s business in several other areas. We are extremely grateful to Governor Chafee, the General Assembly, and the EDC for their support, and we look forward to the project’s completion in the Spring of 2013.”
Dredging Today Staff, July 31, 2012; Image: fstflorian