South Carolina Ports Authority OKs largest capex plan in its history

The South Carolina Ports Authority (SCPA) yesterday adopted a $277.6 million capex plan for fiscal-year 2019.

The largest capital plan in the authority's history, the program includes funds for projects to modernize terminals, increase capacity and accommodate intermodal growth, SCPA officials said in a press release.

The largest capital expenditure will be for the Hugh K. Leatherman Terminal, where SCPA will invest $117.1 million in construction, equipment and the port's share of the access road linking the terminal to Interstate 26.

The authority also will spend $79.5 million to modernize the Wando Welch Terminal, $18.9 million to upgrade the North Charleston Terminal and $19 million to construct a new SCPA headquarters.

The authority is planning for "strong volumes" at both of its inland rail facilities in FY2019, SCPA officials said. At Inland Port Greer, for instance, the agency expects a 13 percent year-over-year increase in rail moves, or 136,200 lifts.

SCPA's financial plan for FY2019 projects 5 percent pier container growth, $280.9 million in operating revenue and $42.9 million in operating earnings.

"I'm confident that our investments and planned growth will support another year of milestone accomplishments for the port and positive economic impacts for South Carolina," said SCPA President and Chief Executive Officer Jim Newsome.