Virginia Department of Transportation Commissioner Greg Whirley has approved the advancement of three private-sector proposals to build a new U.S. Route 460 between Petersburg and Suffolk.

Bidders estimate the new highway would cost $1.44 billion to $1.8 billion to build and would require tolls from $5.50 to $11 for cars.

In making his determination, Whirley considered a resolution provided by the Commonwealth Transportation Board and a recommendation from the U.S. Route 460 Independent Review Panel. He has directed VDOT and Virginia’s Office of Transportation Public Private Partnerships to address recommendations provided by both.

“The U.S. Route 460 Corridor Improvements Project is a top priority for the commonwealth,” Whirley said. “Advancing the three private-sector proposals to the next phase will enable us to work closely with the offerors to reduce costs and improve the feasibility of the project.”

Cintra Infraestructuras S.A.U., 460 Partners Inc. and Multimodal Solutions submitted conceptual proposals in response to the agency’s solicitation seeking private partners with new ideas and innovative financing methods to advance the project.

Detailed proposals will be due in August, and the Transportation Board plans to have a comprehensive agreement in place with one of the offerors by late this year or early next year.