SCPA Approves $262.3M Capital Plan

South Carolina Ports Authority Board of Directors yesterday adopted a 2018 fiscal year financial plan that includes six percent pier container growth, $251.1 million operating revenues, $44.1 million operating earnings, and capital expenditures of $262.3 million.

The Port’s FY2018 financial plan reflects continued success of our state port system, both in volume growth and progress of key capital projects,” said SCPA Board Chair Pamela Lackey.

According to SCPA Board Chair, this fiscal year will be an extremely significant period for the port, marking the beginning of harbor deepening construction, completion of the Wando Terminal wharf project, and continued construction of the Leatherman Terminal.

We are well-positioned to build upon South Carolina’s economic development successes and remain competitive in the evolving landscape of the U.S. port industry,” said Pamela Lackey.

The Board approved the $262.3 million capital plan, the largest in the SCPA’s history, with expenditures projected $14.3 million higher than FY2017.

Jim Newsome, SCPA president and CEO commented that this is the largest capital expenditure plan in SCPA history, encompassing a number of projects that collectively will enhance the service of the port.

SCPA will invest $54 million in site development, construction and equipment, and related expenses for construction of the Hugh K. Leatherman Terminal, a new container terminal slated to open in 2020.

Other primary capital expenditures planned include $86.3 million in upgrades to the Wando Welch Terminal, including the completion of the wharf modernization project; $32.2 million for the construction of Inland Port Dillon, opening during the spring of 2018; and $23.3 million for the construction of the new SCPA corporate office.

 

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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