PortStrategy Quotes Tony Renzi on Attractiveness of Public-Private Partnerships for Port Funding
Anthony Renzi, a partner in the cross-border transactions practice at Akin Gump, has been quoted in the PortStrategy article “A New Chapter,” which looks at a rebranding effort by the Port of Philadelphia.
The article reports that the port is spending $350 million over the next three years to double container and vehicle throughput and increase breakbulk volume by 21 percent. An additional $250 million will go toward deepening the main shipping channel on the Delaware River.
Renzi, whose comments come from the annual meeting of the American Association of Port Authorities held earlier this year, said public-private partnerships are very important in instances like this. He noted that financial risk is lessened, project efficiency is strengthened, revenues are enhanced, competition is stimulated and debt is reduced, which leads to transparency in regulation of revenue.