SCPA secures $49 million for harbor dredging

U.S. Army Corps of Engineers funding will help ensure deepening of Port of Charleston’s harbor to 52 feet stays on schedule.    The South Carolina Ports Authority said it has received $49 million in federal funding for the Charleston Harbor Deepening Project.
   Allocated under the U.S. Army Corps of Engineers Fiscal Year 18 Work Plan, the funds are “critical” to keeping the project to dredge the Port of Charleston to 52 feet on track and on schedule, according to officials with the SCPA. The USACE funds will be combined with $50 million in loans from the state of South Carolina.
   Construction to deepen the entrance channel at Charleston to 54 feet began in February, following the awarding of the first two dredging contracts totaling $260 million by USACE last fall and congressional authorization in December 2016. Dredging the inner harbor leading to the port’s Wando Welch Terminal to 52 feet is expected to be completed by early 2021.
   Once dredging is completed, the South Carolina port will be able to handle the largest containerships currently calling the U.S. East Coast.
   “This funding is great news for continued construction activities and timely awarding of dredging contracts for the Charleston Harbor Deepening Project,” said Bill Stern, SCPA board chair, noting that the project received the highest possible funding in the USACE FY 18 work plan.
   According to Jim Newsome, SCPA president and CEO, the project is “one of the most important strategic priorities for the state of South Carolina. The Southeast needs a 52-foot harbor to efficiently handle the large containerships now calling the East Coast.
   “There are four other harbors on our coast at 50 feet of depth, and such large container ships call a network of ports,” he added. “The deepening of major U.S. ports is a significant element of the overall investment thesis across the port industry nationwide, and by 2021 SCPA and the state will have invested over $2 billion in port infrastructure to support the growth of both population and manufacturing in South Carolina and the Southeast region.”