Financing for the widening of the Canal will be ready in December

Panama Canal Authority (ACP) has proposed having ready all financing necessary for the completion of the construction of the third set of locks by the end of the year.

Monday, September 1, 2008

They are in negotiations with the Inter-American Development Bank, the European Investment Bank and the Japanese Bank for International Cooperation, amongst others.
The ACP has announced that once it has completed negotiations with these organisms, it will proceed to negotiate with local private banks and the National Bank of Panama.

More on this topic

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.

Salvadoran Construction Chamber negotiates $50 million

December 2008

Ismael Nolasco, general manager of the Chamber, reported that the group is negotiating financing as a alternative fund for the reactivation of the sector.

The representative added that a draft financing project has been made with the International Investment Corporation of the IDB and with the World Bank.

Canal Locks to Come From Italy

May 2011

The Italian company Cimolai will manufacture the gates for the new Panama Canal locks.

The 16 twenty eight foot gates that make up the locks of the new Panama Canal will be built by an Italian company that was subcontracted by Grupo Unidos por el Canal, led by the Spanish company Sacyr Vallehermoso.

Canal Expansion: Between a Rock and a Hard Place

January 2014

The construction consortium has rejected the proposed solutions one by one, as they know that being replaced would be more expensive for the ACP than to acquiesce to its demands.

EDITORIAL

The alleged light at the end of the tunnel that led to an agreement in principle to resolve the alleged illiquidity of Grupo Unidos por el Canal (GUPC), was dimmed when the consortium led by Sacyr and Impregilo returned to its extremist position: Pay the overruns of $1.6 billion, or the works will be halted.

 close (x)

Receive more news about Infraestructure & Construction

Suscribe FOR FREE to CentralAmericaDATA EXPRESS.
The most important news of Central America, every day.

Type in your e-mail address:

* Al suscribirse, estará aceptando los terminos y condiciones


Tina McBride Yacht Services. S.A.

We are bona fide yacht agents of the Panama Canal.
Operates in Panama
Phone: (507) 6617-7889

Company Profile

Stock Indexes

(Dec 5)
Dow Jones
0.52%
S&P 500
0.55%
Nasdaq
1.08%

Commodities

(Dec 5)
Brent Crude Oil
55.800
Coffee "C"
145.05
Gold
1,164
Silver
16.630