General Assembly Authorizes $350 Million for Port of Virginia

In an attempt to keep the membership up on current happenings with concern to the well-being of the Port of VA, we would like you to be aware of the following:

On Friday, the Virginia General Assembly passed House Bill 1344, authorizing the issuance of bonds to fund certain capital projects throughout the Commonwealth. Included in this bond package is $350 million to fund capital projects at Norfolk International Terminals. The planned work will increase Norfolk International Terminal’s container handling capacity by 46% without increasing the marine terminal’s existing footprint.

HB1344 still requires the Governor’s signature. When signed by the Governor, funding for the improvements to NIT should be available before the end of this year, with expected completion of the capital projects within four years.

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