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SC Ports plan $147 million capital spending - Live5News.com | Charleston, SC | News, Weather, Sports

SC Ports plan $147 million capital spending

CHARLESTON, SC (AP/WCSC) -

The South Carolina Ports Authority plans to spend almost $147 million on capital projects in the new fiscal year that begins July 1.

The board approved the new budget during its meeting Monday in Charleston.

The authority says it's the most aggressive investment plan in the agency's 70-year history. Much of the money will go toward the ongoing building of a new container terminal at the old Charleston Naval Base in North Charleston. Money will also be spent on other infrastructure needs and on upgrading information systems.

"We continue to challenge our organization to grow above the market," said Jim Newsome, president and CEO of the SCPA. "The aggressive projections for our business growth reflect our belief that deep water will drive port selection by cargo interests."

The new budget includes nine news jobs in operations and maintenance.

The budget projects an 8 percent increase in container volume during the year. Container volume was up 10 percent during May.

Copyright 2012 The Associated Press/WCSC. All rights reserved.

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