By STEVE SZKOTAK

NEWPORT NEWS, Va. - A warehouse and real estate company seeking to develop a port-to-rail freight line to the Midwest proposed Thursday a $3.5 billion partnership with Virginia to operate its state port, one of the busiest in the nation.

CenterPoint Properties said the total value to Virginia of the 60-year partnership would be $8.9 billion. The Oak Brook, Ill., company broadly outlined the proposal at a news conference and presented a detailed plan to the state's transportation secretary.

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Posted by boyang at March 12, 2009 12:09 AM