Three multinational business groups have submitted proposals in response to a Kaine administration solicitation to upgrade U.S. 460, a four-lane highway that runs through peanut country between Suffolk and Petersburg. The project, which could cost in excess of $700 million, is deemed crucial for handling an anticipated surge in container shipments from a $450 million port facility that the Maersk shipping company is building in Portsmouth.
The three proposals demonstrate that there’s no lack of private-sector interest in investing in Virginia infrastructure. It will be interesting to see how the three groups envision paying for the project — through tolls, real estate ventures or other revenue sources. The Virginia Department of Transportation will make the proposals public in 10 days.
The Times-Dispatch has the story here.