The Virginia Department of Transportation said Wednesday it is extending until Aug. 13 the deadline for alternative bids from private investors to take over operation of the terminals in the Port of Virginia.
Under the state’s Public-Private Transportation Act of 1995, it has to consider alternative proposals in response to the unsolicited conceptual proposal from APM Terminals to operate the port’s terminals.
In May, APMT made an unsolicited bid it estimated at between $3 billion and $4 billion to take over the operations of all the terminals owned by the Virginia Port Authority under a 48-year lease.