Savannah Harbor Expansion Project (SHEP) is authorized to begin construction, reports World Maritime News.
According to federal studies, for every dollar invested in the deepening, the nation’s economy will collect $5.50 in net benefits.
Further savings can be experienced by port users on land transit because of the terminal’s adjacent network of distribution centres and with it being 100 miles closer to Atlanta than any other port.
Ports Authority Executive Director, Curtis Foltz, said: “A deeper harbor will fully complement the landside infrastructure improvements that are currently under way to increase the Port of Savannah’s capacity and improve services throughout our maritime logistics network.”
The board is set to continue the transition of Garden City’s RTG fleet from diesel to electric power with a budget of US$ eight billion.
This will allow the GPA to avoid using millions of gallons of diesel each year and cut down on air emissions.
He said improved efficiency will allow the GPA to more than double its annual throughput to 6.5 million TEUs.
Georgia’s deepwater ports and inland barge terminals contribute $18.5 billion in income, $66.9 billion in revenue and $2.5 billion in state and local taxes to Georgia’s economy.
They also support more than 352,000 jobs throughout the state annually.