HARRISBURG, Pennsylvania - A Spanish group submitted the highest bid for the right to lease the Pennsylvania Turnpike for 75 years.

Abertis Infraestructuras offered to pay $12.8 billion (euro8.2 billion) for the lease, which Gov. Ed Rendell announced at a news conference Monday.

Rendell endorsed the bid, the highest of three that were submitted, and said he would submit it to the Legislature for approval.

The governor has been pursuing a privatization plan to raise billions for the state's transportation needs. He has said he'll pass along the highest bid to the Legislature for its consideration.
Spanish group's $12.8 billion offer is high bid on long-term US highway lease - MSNBC Wire Services - MSNBC.com