by Mindy Aguon
Guam - The Port Authority of Guam will end the current fiscal year in the black, which equates to good news for the agency's modernization efforts. The Fiscal Year 2011 budget was passed by board members on Wednesday night and includes a comprehensive financial strategy for the agency.
"To maintain the operation but also to look to improving the capital improvements of the port along with the anticipated $50 million from the Department of Defense, as well as the $50 million we're going to get from USDA," said PAG chairman Monte Mesa.
Mesa says they're hoping to begin construction next year. Meanwhile, Port officials are scheduled to meet with the Maritime Administration, PMT, and the U.S. Department of Agriculture next week to outline the work that needs to be done relative to modernization efforts.