Georgia governor earmarks US$46.7 million for Savannah River dredging

2012 04 30


AN additional US$46.7 million from the Georgia state budget has been allocated to the Port of Savannah to pay for harbour dredging.

The new money, passed by the state assembly as part of the governor's FY2013 budget request, brings the total of dedicated state dollars to $181.1 million, said the release.

Governor Nathan Deal recently visited the Port of Savannah to mark the passage of the state budget and said: "The strong support that business and elected leaders across Georgia have shown for this project is justified, based on federal findings. A corps of engineers study has shown that investing in our harbour expansion will yield a 5.5:1 benefit to cost ratio - among the best for any corps navigation project."

The governor's visit came after the release of the US Army Corps of Engineers' final environmental impact statement and general re-evaluation report on the Savannah Harbour Expansion Project, which will deepen the shipping channel to 47 feet. The documents are the culmination of 15 years of economic and environmental study, and the final step necessary before federal regulatory agencies can decide on project approval.

"The Corps of Engineers study has shown the project will reduce shipping costs by at least $174 million a year," Mr Deal said. "That's a price advantage that could make US goods more affordable in foreign markets, and a cost savings that will be felt nationwide."

Said Georgia Ports Authority (GPA) chairman Alec Poitevint: "We are honoured that the governor chose to commemorate the passage of this important funding legislation here at the Port of Savannah," adding that the harbour deepening is a vital part of continuing the state's export-dominant status. In fiscal year 2011, export throughput comprised 53 per cent of the GPA's total containerised cargo.

"The larger ships accommodated by the greater channel depth will reduce shipping costs per container, making it more affordable for domestic producers to reach international markets," Mr Poitevint said.

The harbour project is necessary to prepare for a new class of larger containerships that are nearly three times the capacity of those currently able to transit the Panama Canal today. In 2014, the Panama Canal expansion will be completed and increase the maximum draft of vessels travelling to and from the US east coast from 39.5 feet to as much as 50 feet. While the Port of Savannah regularly handles vessels that are too large to transit the Panama Canal today, these vessels cannot load to their capacity," said Mr Poitevint.

Said GPA executive director Curtis Foltz: "Deepening the Port of Savannah is a key part of Governor Deal's broader strategy to improve the movement of goods across and within Georgia, and to expand the state's role as a global gateway for commerce. As we move toward the construction phase of this project, the state's $181 million financial commitment sends a powerful message to the world that we are determined to meet the new demands of international trade."

Source Shipping Gazette - Daily Shipping News
 

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