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Virginia Port Authority called a July 17 public meeting

  13.07.2012    

The Virginia Port Authority has called a July 17 public meeting to discuss an unsolicited bid from APM Terminals, part of Denmark's AP Moller Group, offering US$3.16 billion to privatise the port and run it for 48 years.
The state has since invited proposals from other companies to be accepted or rejected by the end of July. This has raised objections voiced in the Hampton Roads Daily Press that the short deadline gives little time to APM T rivals to formulate counter bids.
"It is neither fair nor wise to restrict competitors from producing meaningful proposals that could produce better deals for the state," the newspaper wrote. "We call on the governor and the port authority to reel in this runaway circus and provide a more realistic timeline," said the newspaper editorial.
The working group which consists of state legislators and seven members of the House of Delegates will advise the governor following the outcome of the public meeting.


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