Financial Times FT.com

Developer eyes Virginia port operations

By Robert Wright in London

Published: March 16 2009 02:43 | Last updated: March 16 2009 02:43

A property developer has asked the US state of Virginia to let it take over its ports in a sign of continuing private interest in publicly owned infrastructure.

Chicago-based CenterPoint Properties announced the proposal on Friday under state laws that let private companies make unsolicited approaches for state-owned assets. CenterPoint said it would provide $8.9bn total value to the state over a 60-year concession.

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