$50m More for $650m Port Deepening Project

Press Release
Monday, November 19, 2012

Gov. Nathan Deal has announced that as part of his FY2014 budget proposal, he will seek an additional $50 million in funding for the Savannah Harbor Expansion Project at the Georgia Ports Authority Board meeting.


 
“I am committed to allocating funds and time to this pivotal link in our logistics network,”said Deal. “Expanding the Savannah Harbor is vital to our renewed economic growth and plays an integral role in helping make our state the No. 1 place in the nation in which to do business.”


 
If approved, the proposal will increase state funding for the deepening project to $231.1 million.


 
“Studies indicate that the port deepening will reduce shipping costs by at least $213 million a year,” said Georgia Ports Authority Board Chairman Robert Jepson. “The 5.5-to-1 benefit-to-cost ratio demonstrates that the expenditure would be a wise investment of federal dollars.”


 
Overall, the cost of the project is anticipated to be $652 million. The Record of Decision, signifying final federal approval for the project, was issued in October, allowing for construction to begin in 2013.


 
“The milestone decision made thus far by our federal agencies along with strong support from the state signifies great confidence in the surety and soundness of our deepening plan,” said Georgia Ports Authority Executive Director Curtis Foltz. “We are and will continue to work diligently with our leaders in Washington to cultivate further funding for a successful port deepening.”
 

 

Maritime Reporter September 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

New Intermodal Rail Service from PortMiami

Florida East Coast Railway (FECR) and PortMiami, through a strategic alliance, are offering the Sunshine Gateway service, which includes on-dock intermodal rail capabilities.

Singapore’s MPA Discuss LNG Bunkering

The Maritime and Port Authority of Singapore (MPA), Antwerp Port Authority, Port of Rotterdam and Port of Zeebrugge participated in a Liquefied Natural Gas (LNG)

Logistics

Long Beach Cargo Continues to Climb

Cargo container traffic rose 7.3 percent in September at the Port of Long Beach compared to the same month last year, making for the Southern California seaport’s busiest September since 2007,

Continership Alliance Expands to US Trades

The CKYHE Alliance (COSCO, "K" LINE, Yang Ming, Hanjin Shipping, and Evergreen Line) has announced they will expand their cooperation scope to U.S. Trades and CKYHE

New Intermodal Rail Service from PortMiami

Florida East Coast Railway (FECR) and PortMiami, through a strategic alliance, are offering the Sunshine Gateway service, which includes on-dock intermodal rail capabilities.

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1637 sec (6 req/sec)