The cost estimates of a scaled-back port project have increased to nearly $2 billion. The project was expected to cost $350 million a decade ago. (Port of Alaska photo)

ANCHORAGE, Alaska (AP) Anchorage officials have hired consultants to help determine the best path forward for the stalled modernization project of the Port of Alaska.

The Alaska Journal of Commerce reports the Anchorage Assembly's Enterprise and Utility Oversight Committee approved a $45,000 contract last week for the project management firm Ascent PGM and the consulting firm Northern Compass Group.

The Northern Compass Group is led by former U.S. Sen. Mark Begich.

The assembly approved funding in March for consulting work to review aspects of the port expansion project, including figuring out why costs have skyrocketed.

The cost estimates of a scaled-back port project have increased to nearly $2 billion. The project was expected to cost $350 million a decade ago.

Begich said the consultants expect to produce a report by mid-September.

Today's top stories

Florida's Sarasota Bradenton International Airport Sees $105M Terminal Expansion

Louisville Pump Station Receives $230M Update

Rokbak Haul Track Telematics Boost Uptime With Proactive Maintenance

SISO Air, InTerra Form Strategic Reseller Agreement

Hitachi Construction Machinery Wins Silver in 2024 Anthem Award

Balfour Beatty's Carolinas Operations Selected for Over $36M in Special Project Works

Caterpillar to Spotlight 'Next 100 Years' at CES 2025

Liebherr to Exhibit at World of Concrete 2025