CHARLESTON, S.C. (AP) -- The two-state board working on a $5 billion containership terminal on the Savannah River is going ahead with an updated market and other studies amid concern the terminal won't be needed as early as projected.
South Carolina and Georgia are working on the terminal on the South Carolina side of the river downstream from Savannah. The board was briefed Monday on changes in the world economy since it began its work in 2008. Projections then were that the terminal would open around 2029.
South Carolina State Ports Authority CEO Jim Newsome says it won't be needed that quickly due to a slower world economy. Board chairman Jim Balloun of Georgia says 2029 was an estimate and no construction money will be spent until it's clear the terminal is financially viable.