Virginia International Terminals Inc., the port's current operator, pledges to increase container volumes by an average of 6.5 percent over the next five years.
The proposals would vie against an unsolicited offer from APM Terminals Inc. that was announced three months ago.
The offer from The Carlyle Group, a Washington-based private-equity firm, involves making an upfront payment of $250 million to $300 million.
RREEF, a real estate investment arm of Deutsche Bank, is proposing an upfront payment of $400 million.