Newsclip®: [Business] Georgia approves $7.5M for joint seaport with South Carolina - San Francisco Chronicle

"Both states have spent years discussing, studying and debating the proposed $4.5 billion Jasper Ocean Terminal, which would occupy 1,500 acres in Jasper County, South Carolina, not far from downtown Savannah. South Carolina Ports Authority spokeswoman Erin Dhand said her state's lawmakers have approved $2.5 million to cover next year's share. A joint board overseeing the project already asked the Army Corps of Engineers to begin the permitting process for construction at the site as well as widening and deepening the shipping channel. Jeffrey Holt, a banker who specializes in financing for port expansions and other infrastructure projects, told the board last November that for every $1 billion they borrow, the states should expect to pay $50 million to $130 million each year to cover debt obligations.", www.sfchronicle.com


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