Posted on July 11, 2012 at 9:53 AM
RICHMOND (AP) -- Virginia is extending its deadline for companies to submit proposals to take over the operation of some of the state's port terminals.
The original deadline was on Thursday. State officials say the new deadline is August 13.
The state Department of Transportation issued a request for alternative proposals following an unsolicited one by APM Terminals Inc., a division of global shipping company Maersk.
The APM Terminals proposal calls for a 48-year agreement to operate state ports in the Hampton Roads region as well as the Virginia Inland Port in Warren County. The proposal is valued between $3.2 billion and $3.9 billion.