Investigations are being made into the investment of $100 million in the expansion of underground cables in new areas of the capital and the provinces.
The National Authority of Public Services and the electricity distributor Gas Natural Fenosa are studying burying power lines in other areas of the capital city and the countryside. The preliminary estimate of the investment is $100 million.
The sectors involved have agreed on a solution which means that the cost of the underground cabling will be between 1% and 3% of the cost of each house.
A short while ago it was believed that home values would increase by between $7000 and $9000, when the construction sector had not reached an agreement to amend Law 15 of April 26, 2012.
Panamaamerica.com.pa reports: "According to Law 15 of April 26, 2012, in order to lay the cables concrete viaducts should be used, which is very expensive, according to industry players. For this reason they have proposed the use of PVC and polyethylene pipes, especially regulated for this purpose, which does not affect the quality and safety of the system ... ".
Construction unions in Panama are looking for a way to avoid an excessive increase in the value of homes due to underground cabling.
"The guilds of Panama involved in building and selling homes, have joined forces with the aim of making underground cables in new residential projects (...) not having a significant impact on the price of homes ...", reported Panamaamerica.com.pa.
House prices could increase by as much as $7000 because of underground cables laying, now postponed until January, in new residential complexes.
The Ministry of Housing and Territorial Ordinances has decided, along with promoters of urban projects, to postpone until January 2014, underground cable laying which was scheduled to start on September 1.
Gas Natural Fenosa is putting out to tender civil works for underground cabling in the banking district of Panama City.
According to an article in Prensa.com, the Distribution Manager of Gas Natural Fenosa Panama, Sebastian Perez, said that "11 companies have pre-qualified and will therefore be eligible to compete for the civil works, which have an estimated investment value of $26 million.
The project will cost $40 million and will be tendered after approval of a law which establishes the rate to be paid by the users of the involved communications services.
Bill 423 states that users of fixed and mobile telephony, pay view television and internet services will have to pay between 1% and 2% in their monthly bills once the investment plan starts, reported Prensa.com.