Philadelphia Industrial Development Authority Awards Facilities Contract to Hanwha Philly Shipyard Inc (September 2026)

Scope & details

The full contract record, as filed.

Contract amount

$4,500 per acre per month for GPMA, the Steam Plant, Marine Railway, Grassy Area, Building 120, and Water Tower; $27,445.56 per month for Dry Dock 2 & Pier 5

Contract type

FACILITIES

Contract term

Initial term of approximately 572 months, until May 31, 2074, with five 10-year renewals

Renewal date

2074-05-31

Renewal

Five 10-year renewal options follow the initial term ending May 31, 2074. Up to 30 months of base rent is abated during the initial term; applicable base rents escalate annually after the first year.

Document type

AgendaPacket

Source document

Philadelphia Authority for Industrial Development AgendaPacket Board Meeting 2026-09-22

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the facilities contract by Philadelphia Industrial Development Authority?

Hanwha Philly Shipyard Inc was awarded this facilities contract by Philadelphia Industrial Development Authority, as recorded on September 21, 2026. The contract value is $4,500 per acre per month for GPMA, the Steam Plant, Marine Railway, Grassy Area, Building 120, and Water Tower; $27,445.56 per month for Dry Dock 2 & Pier 5.

How much is the Hanwha Philly Shipyard Inc contract with Philadelphia Industrial Development Authority worth?

The Hanwha Philly Shipyard Inc contract with Philadelphia Industrial Development Authority is valued at $4,500 per acre per month for GPMA, the Steam Plant, Marine Railway, Grassy Area, Building 120, and Water Tower; $27,445.56 per month for Dry Dock 2 & Pier 5, covering facilities work.

What type of contract is this?

This is a Facilities contract, documented as a agendapacket record.

Where was this contract approved?

This contract appears in Philadelphia Authority for Industrial Development AgendaPacket Board Meeting 2026-09-22 (AgendaPacket), dated September 21, 2026 from Philadelphia Industrial Development Authority. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Hanwha Philly Shipyard Inc hold?

Hanwha Philly Shipyard Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

View Hanwha Philly Shipyard Inc's profile

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