Panama to Materialize Highway Purchases
Between April and May, the Government will purchase the North and South highways for $ 1,070 million.
Tuesday, February 8, 2011
The likely dates for the transaction would be April 10 or May 25, added the Minister of Economy and Finance, Alberto Vallarino.
The Government purchased the Southern Corridor highway, operated by ICA, and 51% of the Northern Corridor, operated by PYCSA.
The government will renegotiate two highway construction contracts from the 1990s, one with ICA and another with PYCSA.
Initially, the government had negotiated to purchase 51% of the project, known as “Corredor Norte PYCSA”.
The government has signed a contract for the acquisition of 100% of the shares of the road called ‘Corredor Sur’ from the company ICA.
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