Under the Commonwealth of Virginia’s Public Private Partnership Transportation Act (PPPTA), an unsolicited bid for privatising a Commonwealth asset then triggers a four month window for competiting bids.
In late March, CenterPoint Properties began the process; Goldman Sachs/Carrix, and the Carlyle Group have now submitted their proposals.
The assets include container terminals at Norfolk, Hampton Roads and Newport News, and an inland transfer point at Front Royal, west of Washington, D.C.