RICHMOND—One of the three companies jockeying to be the one selected by the state to build a limited access toll road from Petersburg to Suffolk has dropped out of the procurement process of the project. Itinere Infrastructure, a Spanish company based in Madrid, has withdrawn from the procurement process for the U.S. Route 460 Improvements Project, a plan to construct a 55-mile, four-lane divided highway from Interstate 295 in Prince George County to the U.S. Route 58 bypass in Suffolk. Join discussion...

Infrastructure Investors (CII), a fund of Citigroup (NYSE:C), will set up a vehicle (Pear Acquisition Corporation) to buy Spanish toll-road company Itinere Infraestructuras SA (MCE:ITI) and sell its assets, ADP News reported on 11 March 2009. Join discussion...

Italian motorway operator Atlantia (ATL.MI) continues to look for acquisition opportunities abroad despite turmoil in the markets, CEO Giovanni Castellucci said on Thursday. Join discussion...

Spanish infrastructure company Abertis (ABE.MC) is set to sign a loan for up to 540 million euros ($701 million) to finance its acquisition of Itinere's (ITIE.MC) highway concessions, sources close to the deal said. Join discussion...

The state highway department has asked three private road builders for plans detailing how they would construct a new U.S. 460 between Suffolk and Prince George County as a tolled expressway. Join discussion...

The Virginia Department of Transportation (VDOT) announced yesterday it had issued a request for detailed proposals and a draft concession agreement for the Route 460 PPP project. Three teams had submitted conceptual proposals in September 2006. At that time, the Cintra, Itinere, and Skanska/Macquarie Join discussion...

Spanish infrastructure operator Abertis is seeking to consolidate its position in a number of its subsidiaries where it does not have management control, Chairman Salvador Alemany said on Tuesday. Join discussion...

The Spanish builder Sacyr Vallehermoso said Monday that it had agreed to sell its Itinere highway business to a Citigroup infrastructure fund to reduce a mountain of debt. Join discussion...

Sacyr Vallehermoso SA's Itinere concessionaire said it will invest 425.1 million euros in a consortium also including Sacyr's Somague unit on a Marao tunnel concession in northern Portugal Join discussion...