Southport Terminal News

Governor Edward G. Rendell announced the investment of up to $25 million dollars in commonwealth capital funds to advance the Southport Marine Terminal project at the Port of Philadelphia. The investment will fund pre-construction activities critical to the project's success. Teams qualified to bid for the right to develop and operate the Southport terminal were notified earlier today that the competitive bid process has been temporarily suspended to allow capital and financial market conditions to improve. Initial development proposals from qualified teams, received on May 15 after a months-long competitive process, reflected the detrimental impact of the global recession and international credit crisis on the shipping lines…