Virginia ends private operators prospects

The decision ends the process of evaluating unsolicited proposals in accordance with the Commonwealth of Virginia’s Public-Private Transportation Act.

Last year, proposals were submitted by CenterPoint Properties of Illinois, to operate VPA’s three existing marine terminals, along with the Front Royal inland terminal and the planned Craney Island Terminal. Counter proposals were later submitted by the Washington-based Carlyle Group and a separate partnership between Carrix and Goldman Sachs.

In a statement, released at the end of last week, Connaughton said, “We are mindful that the three proposals were received during a severe economic downturn that reduced the volume of cargo moving through the port, with consequential negative impacts on its revenues and value”.