  In earlier work, using the light cone picture, a world sheet field theory
that sums planar phi^3 graphs was constructed and developed. Since this theory
is both non-local and not explicitly Lorentz invariant, it is desirable to have
a covariant and local alternative. In this paper, we construct such a covariant
and local world sheet theory, and show that it is equivalent to the original
non-covariant version.
