SHARECOMMENTMORE

CHARLESTON, S.C. -- A joint South Carolina-Georgia shipping terminal on the Savannah River is expected to cost about $3.3 billion, which is less than earlier projections.

The joint board overseeing the project also has been told it should start seeking permits for the project immediately.

The two states are working together to build the Jasper Ocean Terminal on the South Carolina side of the river downstream from Savannah.

Consultants briefed the board Tuesday, updating a 2008 study on the need for the terminal.

That earlier study found the cost could be $4.5 billion, based on building all at once and completing it by this year. The updated study found that building costs will be lower if the terminal is built in phases as capacity is needed over 17 years.