That’s the minimum cost expected to rebuild the Francis Scott Key Bridge, a process that could take anywhere between 18 months and seven years to complete, the Associated Press reported.
The bridge opened in 1977 after five years of construction.
Key Background The Francis Scott Key Bridge—spanning the Patapsco River in Maryland—collapsed last month after a pier was struck by the MV Dali, a Singapore-flagged cargo ship.
Most of the 1.6-mile-long bridge fell into the water, blocking off Baltimore’s port and leaving more than 40 ships stranded in the harbor.
A portion of the cargo contains a “wide range of packaged materials” and “consumer goods,” Coast Guard Vice Admiral Peter Gautier said.
SBA Administrator Isabel Casillas Guzman said the impact of the bridge collapse has “really been felt” by supply chain, logistics and transportation companies that focus their business on the port.
Further Reading Baltimore Bridge Collapse: Over 500 Small Businesses Apply For Business Loans (Forbes) How Long Until The Baltimore Bridge Is Rebuilt?
White House Says It ‘Will Not Be Quick, Or Easy, Or Cheap’ (Forbes)
Top of page.
While White House officials have cautioned that the rebuilding process “will not be quick,” work to clear the debris of the Francis Scott Key Bridge continued in Baltimore on Saturday. The goal is to reopen the permanent channel to the port of Baltimore by the end of the month. “.
Important Details.
Things to Be Aware Of.
According to the Baltimore Sun, the Maryland attorney general’s office is seeking legal counsel for “possible litigation concerning” the collapse of the bridge.
High Number.
$400 million. The Francis Scott Key Bridge reconstruction is expected to cost at least that much, with a completion time of seven years to as much as eighteen months, according to Associated Press reports. After five years of construction, the bridge was finally opened in 1977.
Important Backstory.
The Singaporean cargo ship MV Dali collided with a pier last month, causing the Francis Scott Key Bridge, which spans the Patapsco River in Maryland, to collapse. Over forty ships were left stranded in the harbor when the majority of the 11.6-mile-long bridge collapsed into the water, cutting off Baltimore’s port. Pete Buttigieg, the transportation secretary, issued a warning after the bridge collapsed, saying that repairs “will not be quick, easy, or cheap.”. Buttigieg stated that there is an estimated $950 million in emergency relief funds available, but a precise timeline for the rebuild won’t be available until the National Transportation Safety Board’s investigation is finished. Vice Admiral Peter Gautier of the Coast Guard stated that “consumer goods” and a “wide range of packaged materials” are included in the cargo.
Deviation.
According to information provided by the Small Business Administration to Forbes earlier this week, more than 500 companies impacted by the collapse of the bridge last week have applied for long-term, low-interest loans to assist with their expenses. Supply chain, logistics, and transportation companies that concentrate on the port have “really felt” the effects of the bridge collapse, according to SBA Administrator Isabel Casillas Guzman. There are “additional ripple effects” affecting other small businesses in Pennsylvania, Delaware, and Maryland, according to Guzman.
Additional Reading.
The collapse of the Baltimore Bridge: More than 500 small businesses request business loans (Forbes).
The White House states that the reconstruction of the Baltimore Bridge “won’t be quick, easy, or cheap” (Forbes).
