On May 13, the largest ship to ever call on the U.S. East Coast -- the COSCO Development -- will dock at the Port of Charleston. The arrival of this 1,200-foot vessel, which can transport up to 13,092 twenty-foot equivalent units (TEUs), is a testament to the tremendous infrastructure network we have in South Carolina.
With a port that's consistently achieving milestones -- the S.C. Ports Authority (SCPA) set a record for monthly container volume in March -- and with more than 2,300 miles of rail lines, South Carolina provides unparalleled domestic and global connectivity. The continued development of these assets is critical as we seek to remain competitive in the world economy.
Recognizing this, Palmetto Railways, a division of S.C. Commerce, is currently executing two important rail projects in the Lowcountry -- the establishment of a Navy Base Intermodal Facility and the construction of a rail line to Camp Hall Commerce Park. Additionally, over the next decade, the SCPA and State of South Carolina are making a $2 billion investment in port-related projects, including deepening the Charleston Harbor to 52 feet.
In economic development, companies locate where they know they can be profitable and have success. A major factor in determining whether or not a business will be successful is its ability to efficiently transport products to market. By investing in these infrastructure projects, Team South Carolina is ensuring easy, cost-effective product distribution for our companies, setting the table for a future of economic growth and prosperity.