Panamanian Assembly Approves $51 Million for Highway
The Panamanian National Assembly granted a $51 million credit to the MOP (Public Works Ministry) to finance the cost overrun of the Madden-Colón highway.
Friday, March 13, 2009
This highway which is being built by the Public Works Ministry in Panama had an original cost of $215.8 million, but there was an increase in the cost of the project.
An analysis of the $50 million cost overrun in the Madden-Colón highway in Panama.
Work on the third phase of the Panama - Colon road, has been awarded directly through an addendum to the $163 million contract with the Madden-Colón Concessionaire.
The road joining Bocas del Toro to Chiriquí will cost $75 million to repair and construction would take two and one-half years.
The first section of the project that was built at a cost of $112 million was officially opened yesterday.
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