USCGC Alex Haley moored in Nome, AK.

KNOM.org reports,

The U.S. Army Corps of Engineers (USACE) says plans to build the country’s first deep draft port in the Arctic are too expensive.

USACE canceled its port expansion contract solicitation on Wednesday, October 16. It cited two key factors: the proposed pricing exceeded both the cost limits set by U.S. law and the available funding for the project.

Plans were to dreg to 40 feet. Sounds like they may need to be another Congressional action before work can proceed.

Rendering provided by the City of Nome shows how the Port of Nome, Alaska, would have appeared following an expansion project that would have cost more than $600 million.  (PND Engineers Inc./City of Nome via AP)