Negotiations for Farfan Megaport in Panama continue

The consortium made up of Ports of America and Cosco Pacific are looking for the best way to move ahead in the face of rising costs along with the restriction of credit.

Tuesday, January 13, 2009

Prensa.com reports "We are discussing the matter with our partner to determine which is the best route to follow," explained Stephen Edwards, president of Ports America to the La Prensa daily.

For their part, Cosco Panama Maritime, the name of the Chinese shipping company in Panama, confirmed their interest in the project in previous conversations. "Cosco has never said that it will not continue to talk about the megaport," said Zhang Fucun, general manager of the firm."

More on this topic

Farfán Port Left for Next Administration

May 2009

The resumption of construction of the mega-port, which has been paralyzed by multiple lawsuits, will be a topic for the next administration of the Panamanian Maritime Authority (AMP.)

Other projects that will be transferred to the new administration are the incorporation of all the consulates to the AMP’s automation system and the development of an accounting system for the institution.

Farfan megaport in Panama shipwrecked.

November 2008

Port companies lost interest in the project due to the widening of Panama Ports and the construction of the Rodman port.

The Farfan megaport has gone under. The $600 million project, which would have converted Panama into the Singapore of the Americas with regard to logistics, has come to an end. The global economic crisis was the last nail in the coffin.

Panama: Maritime industry terminal to be constructed

September 2008

At an investment of around $2 to 4 million, a group of members from the Maritime Chamber are pushing for the construction of a terminal on the Pacific coast (Farfan).

The project, which will be developed as a maritime service cooperative, will take 24 months to complete.
The terminal will have a loading and unloading passenger dock, a dock for unloading merchandise from supply ships, offices for shipping agencies, customs, quarantine, immigration, shops for the retail sale of spare parts for small boats, cold room, restaurant and depot, etc.

Panama's megaport hit with new legal action

June 2008

A new legal action claiming that the construction of a huge container terminal in Farfán, Panama is unconstitutional has surfaced. It is being presented by the lawyer Alana Herrera Pinzón.

The action was presented before the Supreme Court of Justice.
It was first brought before the Secretary General of the Court on June 6. It challenges the legality of Article 1 of Resolution 24, passed on April 7, 2008 by Cabinet.

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