Jacksonville Port Authority considers privatisation

THE Jacksonville Port Authority is considering whether to privatise some of the docks at Blount Island and Talleyrand marine terminals.

Privatisation would provide millions of dollars for infrastructure repairs and upgrades, as well as cash for projects such as channel deepening.

Jacksonville Port Authority CEO Rick Ferrin earlier said that about US$100 million would be needed over the next decade to replace wharfs, docks and other parts of the more than 30-year-old infrastructure at the terminals.

Public financial management chief David Miller said: "Privatisation can make sense, but it's not a panacea. The private sector may bring efficiencies, but they still have to repay debt and provide return on equity."

But port authority CFO Michael Poole said the port hasn't contacted any of its tenants about possibly entering into a public-private partnership, but it plans to if further research shows the option makes financial sense.
(source:www.schednet.com)