Quasi-public agency Massport, which is responsible for operating ports in Boston, has said that it needs between US$100m and US$200m by 2022 to cope with the predicted increase in the size and number of vessels calling at its port.
To raise the money, the agency is considering privatising the port or selling part of it to property developers. The other option being considered is asking the federal or state governments for the money.
This announcement has angered local politicians from both main parties as the federal government allocated US$216m for Boston dredging works in June and politicians say they were not informed of the extra money needed during these negotiations. Massport is contributing US$94m for the dredging.