Board for Savannah River terminal meeting

CHARLESTON, S.C. (AP) - A two-state board appointed to develop a new shipping terminal on the Savannah River is meeting in Charleston.

The board of the Jasper Ocean Terminal Joint Project Office meets on Monday. Georgia and South Carolina have agreed to work together to build a $500 million shipping terminal on the South Carolina side of the Savannah River just downstream from Savannah.

South Carolina Gov. Mark Sanford and Georgia Gov. Sonny Perdue signed a memorandum of understanding three years ago and the panel was formed to develop a 1,500-acre port. Then the recession hit and consultants have told the panel that container capacity in Charleston and Savannah likely won't be reached until 2024 so there is no immediate need for a new container port.

(Copyright 2010 by The Associated Press. All Rights Reserved.)