The U.S. Department of the Interior has approved $3 billion in federal funding to support the purchase of more than 30 dredging equipment and equipment to help expedite the development of a $3 trillion natural gas pipeline project.
The funding was announced by Interior Secretary Ryan Zinke during a ceremony Thursday at the Interior Department in Washington, D.C.
The proposed $3,000 per acre pipeline is one of the largest in the world, with the potential to carry as much as 11 billion cubic feet of natural gas annually.
Zinke said the project will be a boon for the economy.
The funding will be used to purchase 30 dredgers and other equipment and materials necessary to develop the proposed pipeline.
The program is part of a broader $1.6 trillion infrastructure program that includes $1 trillion in new projects.
The Trump administration is planning to spend $2.4 trillion in infrastructure projects by 2021.