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Railroad board to discuss $315 million Port MacKenzie extension Friday
The Alaska Railroad board will discuss a private consortium's proposal for completing the Port MacKenzie Rail Extension during a meeting Friday in Fairbanks.
The 32-mile project is partially built but still lacks rail and final connections between Port MacKenzie and Houston. Railroad officials estimated the remaining work at $315 million in June and said a federal grant application would require a $63 million match.
Alaska Infrastructure Partners entered the process in August. The board authorized negotiations after hearing from a group that included Macquarie Capital, AIDEA and construction and engineering firms. Vice Chair John Binkley said the consortium's proposed timetable was unrealistic and that the Legislature would have to approve some financing mechanisms.
Friday's discussion is scheduled for executive session. The board must return to public session before voting or taking other formal action.
The railroad's federal grant application remains undecided. The board meeting begins at 9 a.m. Sept. 25 at Pike's Waterfront Lodge and is also available by Zoom through the railroad's board page.
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Source: State of Alaska, A $315 million rail project, a Macquarie-backed consortium and a 200-page draft the board has not read. The Alaska Railroad's next update on it is closed to the public.
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