Pa. Turnpike looks to foreign investors for $200M

    Foreign investors, expected to be primarily from China, could provide $200 million to help connect the Pennsylvania Turnpike to Interstate 95 in southeastern Pennsylvania.

    The Philadelphia Inquirer reported Thursday that the deal is being brokered by officers of a Philadelphia investment management company who stand to collect commissions and fees.


    The Inquirer also reports that the investors and their families could get green cards to live in the United States as part of the exchange.

    Turnpike Commissioner Pasquale Deon Sr. says the deal proposed by Swarthmore Group officers would deliver cheaper money for the turnpike than the bond market. Federal approval is still required.

    Congress created the Immigrant Investor Program in 1990 to grant immigration visas to wealthy foreign investors who help finance certain U.S. projects.

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