Concerning the President’s Fiscal Year 2020 Budget, Trump made announcements on saving USD 138 million for the 52-foot Charleston Harbor Deepening Project. The funding represents an opportunity for the port’s project to receive Congressional funding for construction.
Specifically, according to Carolina Port Authority, the US Army Corps of Engineers’ recalculation of the benefit-to-cost ratio to a new score of 6.4 last fall, driven primarily by SCPA’s container cargo volume growth, allowed the project to meet the threshold for consideration in the President’s Budget.
Federal funding at such a high level reflects the importance of our project to the nation and supports the continued progress of construction to 52 feet.
… stated Bill Stern, SCPA Board Chair.
Inclusion in the President’s Budget makes the Charleston Harbor Deepening Project eligible for direct appropriations by Congress through the Energy and Water Appropriations Bill in 2019.
Moreover, Jim Newsome, SCPA President and CEO noted that by 2021 SCPA and the state will have invested up to USD 2 billion in port infrastructure in support of the development both of the population and manufacturing in the region.
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He continued that the deepening project highlights the port’s need to handle 14.000 to 18.000 TEU vessels drafting 50 feet or more without significant depth and other navigation restrictions.
The construction for the Charleston Harbour Entrance Channel began in February 2018.
