The Virginia Port Authority has approved $18 million in spending for two expansion projects at Norfolk International Terminals. At a meeting earlier this week, the authority’s commissioners said yes to a $5.1 million purchase of 33-acres for train assembly operations. It also agreed to spend $13.4 million to pave an existing 15 acres for the storage of cargo containers.
The Norfolk port is the largest of the state’s four marine terminals. During this year’s session, The General Assembly authorized up to $27,200 to fund a study that will look at privatizing the state’s three marine terminals in Hampton Roads. It also will focus on whether the state’s road and rail network is sufficient to serve the port and what changes might be needed for the future. The panel, which will be represented by eight legislators and nine representatives of Virginia’s maritime business community, expects to complete its study by the end of 2009.
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