Dredging International confirms Panama Canal contract

Said the company: "Notification of the contract was given by the Autoridad del Canal de Panamá (ACP), and will secure work for the next four years. The upgrading of the Panama Canal will significantly enhance international trade and navigation (post Panamax vessels), and will include construction of two major complexes of maritime locks – the design of which was developed in the past months by Belgian engineering firms."

Thursday, April 3, 2008

Dredging International also confirmed that the contract is worth some US$177.5 million and will require the assignment of a great variety of very specialised plant: ocean-going heavy rock cutter suction dredgers, trailing hopper dredgess, large backhoe dredgers, and very advanced self-propelled pontoons for drilling and blasting.

More on this topic

Panamax 2010: Defending the Canal

July 2010

Events like the Panamax military exercise show the commitment of the international community in assuring the operation of the Panama Canal; this is an implicit guarantee for investing in the country.

The Canal's strategic importance in global trade has grown to such levels that 21 countries engage in military exercises to defend it.

Panama Canal secures financing

December 2008

The Panama Canal Authority (ACP) completed a contract yesterday to finance the expansion of the Canal.

The total figure is $2.3 billion. The aforementioned contract was made with the European Investment Bank for $500 million, the Bank of Japan for International Cooperation for $800 million, the Inter-American Development Bank for $400 million, the International Finance Corporation for $300 million and the Andean Development Corporation for $300 million.

Panamanian authorities expand plans for Farfán megaport

April 2008

The government of Martín Torrijos has apparently decided to build three terminals at the port development at the Pacific entrance to the Panama Canal.

However, it's not clear when this will be done. Panama's second vice-president, Rubén Arosemena, says the concession for the megaport development in the Palo Seco area of Farfán must wait until the Assembly approves a contract between the State and the Port Singapore Authority(PSA) to build a container center at the Rodman Quay. Arosemena did not provide details. The PSA says it will invest 70 million dollars in its project.

Panama Canal bidders given more time

May 2008

The deadline for the presentation of bids for the design of new locks on the Panama Canal has been stretched by 47 days, the canal authorities said.

Four consortiums have qualified to present bids for the contract. Canal authorities said the tender's new deadline still fits within the overall timetable for the expansion project.

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