Macquarie is a member of one of three bidding groups for the privatization. The three consortiums have entered bids and will wait for the next month for approval from Virgina transportation officials. A decision is expected next year, according to press reports.

Macquarie is bidding alongside Skanska Infrastructure Development, Tidewater Skanska, Lane Construction, and DMJM Harris.

The second consortium includes Citigroup, Itinere Infraestructuras, Sacyr SAU, Clark Construction Group, Shirley Contracting Company and Louis Berger Group.

The third group of bidders includes Cintra US, Ferrovial Agroman, and Earth Tech.

Macquarie already owns toll roads in states including Indiana and New Jersey. Macquarie is also reportedly in talks with the Pennsylvania Turnpike Commission about taking over the Mon-Fayette, a 100-mile extension route in that state.

Stephen Allen, chief executive of Macquarie Infrastructure Group said earlier this week at a Merrill Lynch infrastructure conference in Australia that Macquarie has set its sights on the US toll-road market for expansion as well as to support its lagging share price. Allen also said, however, that the US market is xenophobic and presents challenges for foreign infrastructure investors.

Macquarie has been selling off some of its assets to its sister companies in order to raise money for its recent acquisitions.

Infrastructure investing is becoming a more competitive field in the US as several banks, including Goldman Sachs, UBS and Credit Suisse raise funds or form joint ventures to expand their presence in the field.