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<p>PHILADELPHIA (AP) &#8212; A commitment of $300 million to the Port of Philadelphia during the next four years could make it a bigger player among East Coast ports at a crucial time.</p><p>Gov. Tom Wolf went to the port on Wednesday to follow up on his November announcement that he will use borrowing authority granted by the Legislature to improve the port&#8217;s infrastructure, warehousing, and equipment. Company fees and leases at the port will repay the bond, not taxpayers, Wolf&#8217;s administration said.</p><p>The port currently is a relatively minor player in shipping, but Wolf&#8217;s administration said it expects the improvements will double the port&#8217;s container capacity, boost direct employment from about 3,000 to 5,000 and triple annual revenue to the state from $5.7 million to $18.9 million.</p><p>The investment comes as the Panama Canal&#8217;s newly expanded locks are expected to shift some container business to the East Coast and the Delaware River&#8217;s main shipping channel is being deepened from 40 to 45 feet.</p><p>That will make the port better prepared for the larger, deeper-draft container vessels that will be able to reach the port through a deeper Delaware River channel, as well as a recently widened Panama Canal, the administration said. The expansion still would leave the Philadelphia port out of the United States&#8217; top 10 busiest ports, according to statistics from the American Association of Port Authorities.</p><p>Much of the borrowed money was expected to go toward the purchase of four new post-Panamax electric container cranes, the construction of container warehouses and the deepening of the terminal&#8217;s marginal berths to 45 feet, it said.</p><p>The Packer Avenue Marine Terminal, the port&#8217;s largest maritime facility, will be modernized to support the electrification of existing diesel cranes and offer cold ironing capabilities, a service that allows ships to turn off their engines and get power by plugging into shore-side electrical systems.</p><p>The port&#8217;s automobile handling facility will expand, and the money will improve a wood pulp cargo operation at the Tioga Marine Terminal, the administration said.</p><style>
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<div class="metaInfo"><bylineMeta><p>Associated Press</p></bylineMeta></div>

Port of Philadelphia to get $300M face-lift from state bond