Whenever any railroad, public utility company, public service corporation or company, political subdivision, or cable television company owns or occupies any privately owned land either under a claim of right or with the apparent acquiescence of the private landowner which the Commissioner of Highways deems necessary and intends to acquire for any highway project, and such land owned or occupied by the railroad, public utility company, public service corporation or company, political subdivision, or cable television company is devoted to a public use, the Commissioner of Highways may acquire by gift, purchase, or by the exercise of the power of eminent domain additional land or easement, right-of-way, or interest in land adjacent to or approximately adjacent to such land needed and proposed to be acquired for such highway project and may then convey the same to the railroad, public utility company, public service corporation or company, political subdivision, or cable television company for use by it in lieu of the land theretofore owned or occupied by it but needed by the Commissioner of Highways for such highway project. The condemnation of such land, easement, right-of-way, or other interest in land to be conveyed to any railroad, public utility company, public service corporation or company, political subdivision, or cable television company shall be governed by the procedure prescribed by this article and may be carried out at the same time if against the same property owner and if against the same landowner or in the same proceedings in which land is condemned for highway purposes. The Commissioner of Highways may, under the same procedure and conditions prescribed by this article, with respect to property needed for highway purposes, enter upon and take possession of such property to be conveyed to any railroad, public utility company, public service corporation or company, political subdivision, or cable television company in the manner provided in §§ 33.2-1018 through 33.2-1027 and proceed with the relocation of the installations of the railroad or public utility company in order that the construction of the highway project may be carried out without delay. After the acquisition of the land owned or occupied by railroads, public utility companies, public service corporations or companies, political subdivisions, or cable television companies and the acquisition of the additional land, easement, right-of-way, or other interest in land for such railroads, utility companies, public service corporations or companies, political subdivisions, or cable television companies as provided in this section, in the event the poles, lines, or other facilities are not removed by such railroads or utility companies within 60 days from the date of the taking by the Commissioner of Highways, the Commissioner of Highways is vested with the power to remove and relocate such facilities at his own cost. Any conveyance previously made by the Commissioner of Highways in exchange for land that was needed for a highway project is hereby declared to be valid and effective in all respects.