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APM Terminals touts takeover plan to Virginia mayors

North America

Wednesday, October 03, 2012

Eric Sisco, president of APM Terminals America, said the company's proposal to lease and operate the Virginia Port Authority (VPA) facilities could free up cash for other transportation projects in the state. In a letter to municipal and county officials, APMT said its proposal would transfer ownership of its APM Terminal in Portsmouth to the commonwealth and "free up nearly $4 billion that the commonwealth can dedicate to transportation improvements and for needed devel...

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