Bid to privatize Virginia port operations made public

Posted to: Business Norfolk
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By Robert McCabe
The Virginian-Pilot
© March 27, 2009

State officials on Friday made public a bid by a Chicago-area firm to take over operations of the Virginia Port Authority's terminals, a “strategic partnership” that the company says would be worth $8.9 billion to the state over the 60-year life of the deal.

The bid by CenterPoint Properties, based in Oak Brook, Ill., has been posted on the Web site of the Virginia Port Authority at www.portofvirginia.com, under the “PPTA” heading on the right of the blue menu bar across the top of the page.

The authority “will accept for simultaneous consideration any competing and compliant proposals it receives in its Norfolk office before 10 a.m. Eastern Standard Time, July 27, 2009,” according to a statement released Friday afternoon.

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