Savannah Harbor Deeping Project cost jumps to nearly $1B - WTOC-TV: Savannah, Beaufort, SC, News, Weather & Sports

Savannah Harbor Deeping Project cost jumps to nearly $1B

(Source: WTOC) (Source: WTOC)
SAVANNAH, GA (WTOC) -

The Georgia Ports Authority director responded to the jump in the Savannah Harbor Deepening Project cost.

According to the Army Corps of Engineers, taxpayers will pay $267 million more than previously estimated. The new cost for the dredging project is $973 million, 38 percent more than the price tag that's been cited since 2014.

Griff Lynch though, says it's worth it.

In a statement, the GPA director says, quote; "the benefit to cost ratio of the project has significantly increased to one of the largest returns on investment on a navigation project for taxpayers in the country."

Lynch goes on to say that cost savings to shippers and cargo owners in one year alone is more than the additional cost of the project.

He says deepening is approximately 60 percent complete.

Copyright 2017 WTOC. All rights reserved.

Powered by Frankly