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04-05-2010, 04:22 AM
The $300 million Delaware River dredging project, already under way, could be a colossal waste of money, according to a Government Accountability Office report. The report, requested by local members of Congress, says Army Corps of Engineers cost and benefit studies failed to account for important changes in river industries and shipping markets, including some that could dramatically erode earlier financial forecasts. Major factors needing more study,according to the GAO, include the effect of a dramatic downturn in crude oil imports along the Delaware River and unproven assumptions about likely shifts in container ship traffic if the channel is deepened to 45 feet from its current 40-foot depth.
For more information:
http://www.delawareonline.com/article/20100403/NEWS02/4030359/Dredging-benefits-in-doubt-GAO-says
For more information:
http://www.delawareonline.com/article/20100403/NEWS02/4030359/Dredging-benefits-in-doubt-GAO-says