Colon Terminal in Panama seeks to double copacity

The Taiwanese Container Terminal in Colon has asked the Panamanian government to expand the concession for its container yard.

Wednesday, October 22, 2008

According to the proposal, the company would get 12 additional acres in concession to convert them into a container yard, thereby increasing current capacity of 700,00 to 1.5 million containers.

With the new project, the company would have a total of 18.4 hectares in concession.

The company would pay the State $11.3 million for the right to use the area incorporated in the project, and the Ministry of Housing would receive 6 million dollars of this money to build houses for the 300 families that would be displaced by the project.

More on this topic

Filipinos Awarded Terminal in Puerto Cortes

February 2013

The proposal by International Container Terminal Services includes royalties of $19.50 per TEU and $624 million in investment in the first ten years of the concession.

A statement from COALIANZA reads:

The company International Container Terminal Services Inc. submitted the best offer for the New Container Terminal for General Cargo at the National Port in Puerto Cortes

Economic Analysis of Puerto Quetzal Lease

August 2012

A study revealed that an international tender to award a concession for the lease of 35 thousand square meters would have generated more income for the state.

It was also noted that the essential new container terminal could have been built with the Port of Quetzal’s (EPQ in Spanish) own funds: "The EPQ is a profitable company, which in 2010 had earnings of Q137 million [$17.4 million] and in 2011 Q120 million [$15.3 million]. It also has between Q680 and Q700 million [ $86.6 million to $89.1 million] in banks.

Colon Container Terminal expands

February 2009

The company paid the Panama Maritime Authority $11.3 million in advance for the right to use 12.3 hectares at Coco Solo.

Wilfredo Jordan reports in a note published on Prensa.com that "On the new plot of land, the company will carry out investments worth $200 million."

New Container Terminal at Puerto Quetzal

August 2012

After having signed a contract for leasing the land for 25 years, the Spanish company Terminales de Contenedores de Barcelona will invest $120 million in the project.

After a rumor had spread about a concession for Puerto Quetzal in Guatemala, which would have involved an international competitive tender, the controller of the port of Quetzal (EPQ), Allan Marroquin, yesterday informed Prensa Libre that "three week ago a contract was signed under which 35 thousand square meters will be leased to the Spanish company in Terminales de Contenedores de Barcelona (Grupo TCB). "

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