The sum comes as part of the $231m allocated by Georgia towards the state’s portion of the Savannah Harbor Expansion Project (SHEP). Georgia hopes that the deepening of the Savannah Harbour, from 42 to 47 ft, will accommodate the same large container vessels traversing the widened Panama Canal, after its 2015 expansion.
“This infrastructure investment is crucial not just for the port, but for the economy of Georgia and the entire Southeast,” said Georgian governor Nathan Deal, who proposed the $50m. “A deeper Savannah Harbor means greater efficiency for 21,000 US companies, 75% of which are headquartered outside of Georgia. A US Army Corps of Engineers study has shown that SHEP will reduce shipping costs for private companies by at least $213m a year. Neither Georgia nor this nation can afford to delay a project that provides customers with a tool that reduces their costs.”
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