Proposals for Panama Canal Expansion Submitted
The C.A.N.A.L, Bechtel Taipei Mitsubishi and Grupo Unidos por el Canal consortiums delivered their proposals to build a third set of locks.
Tuesday, March 3, 2009
AFP published: "The construction of new locks that will allow the crossing of larger vessels is the largest contract in the expansion project and will require a total investment of $5.25 billion. After evaluating the proposals for about four months, the ACP will award the project to the winning consortium and work must be completed by 2014 when the canal will have been in service for 100 years."
The Canal Authority will open the envelopes containing the economic proposals from the three qualified consortiums on July 8th.
The winner consortium presented a $3,1 billion offer for the design and construction of the new set of locks of Panama Canal.
The PCA announced yesterday that Consortium Grupo Unidos por el Canal will design and build the waterway's new set of locks.
According to the Italian Impreglio construction company, the contract for the Panama Canal expansion could be worth $3.7 billion.
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