Plans for New Rail Terminal in South Carolina – The South Carolina State Ports Authority plans to develop an inland port in Greer, South Carolina, along with Norfolk Southern (NS). The port will be built to improve the efficiency of international container movements between the Port of Charleston, the upstate region and neighboring states. The new facility, referred to as “a port without water,” will be developed by NS and operated by the port authority.
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E.U. to Sign FTA with India – The European Union (E.U.) is set to sign a Free Trade Agreement with India by the end of this year. This will be significant for India’s domestic textile industry since the E.U. accounts for 49% of their annual apparel exports. The economic slowdown in the E.U. has pulled down India’s apparel exports by over 50% in the last few years.
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Charleston Dredging Project to Exceed Expectations – The Army Corps of Engineers Charleston District originally forecasted that the Charleston Dredging Project to deepen the harbor from 45 feet to 50 feet would take five to eight years to be completed and cost $20 million. It is now expected to be finished in fewer than four years and cost $5 million less than previously estimated. The project’s time and cost savings are the result of a new initiative launched at the headquarters level of the Corps of Engineers to streamline the civil works planning process.
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Cargo Terminal to be Built in India – Adani Ports and Special Economic Zone Ltd. is planning to spend $216 million to build a bulk-cargo terminal in India’s west coast. The terminal will have an annual capacity to handle 20 million tons of cargo and is due to be ready in two years.
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