Posted on May 30, 2017
Authorities at the Port of Charleston reported progress in plans to create the deepest navigation channel on the U.S. East Coast following approval US$17.5 million in federal funds for the project.
The decision by the Army Corps of Engineers to approve the project will pave the way for increased breakbulk activity at the port through the dredging phase and greater opportunity for oversized cargo handling in the longer term.
“The significance of this funding for the timeline of our deepening project cannot be overstated — it is tremendous news for Charleston,” said Jim Newsome, CEO of the State Ports Authority.
The funding will come from the Army Corps’ fiscal 2017 work plan and will supplement an estimated US$300 million already set aside by South Carolina legislators and US$225 million from federal government.
“The Trump administration has drawn a line — if you want your harbor deepened you better be willing to put up money on the front end to prove your interest. They want to reward innovative approaches like Charleston,” said Sen. Lindsey Graham, R-S.C.
Source: Breakbulk
