The Fight Over Puerto Corozal

Companies interested in developing and operating the new Panamanian port will face stiff competition from Panama Ports Company, which has already prepared a plan and requested to receive the concession directly.

Thursday, November 19, 2015

The operator of the ports of Balboa and Cristobal, which has repeatedly expressed opposition to the idea of ​​building a container terminal in Corozal, now wants to be its developer and operator, and it has now submitted a proposal to the Panama Canal Authority to receive a direct concession of the land located in the area.

Prensa.com reports that "... The request made by the company, a subsidiary of the Chinese company Hutchison Whampoa Limited, comes amid the pre-tender process which the ACP must carry out in order to grant the concession to an operator who will design, build and operate a port in Corozal. According to the document, to which the newspaper had access to, the PPC has based its request on the regulations governing use of the assets of the PCA, which allows contracts to be granted directly."

The PPC is not the only one interested in the port. Another eleven companies expressed their interest to the ACP in participating in a possible tender.
"... In this context, this port would represent, in the hands of another operator, competition for the PPC. According to the favorable ruling by the board of the ACP, this concession will be for 20 years and is renewable with the Canal receiving a payment or annual fee for the use of land strategically located in the entrance of the Pacific side of the waterway. "



More on this topic

Eleven Companies After Concession of Puerto Corozal

November 2015

While the bill to award the construction of a port in Corozal still sleeps at the Congress, eleven international operators have already expressed interest in participating in the act.

From a statement issued by the Panama Canal Authority:

Eleven of the largest port operators in the world have formally expressed to the Panama Canal Authority their interest in participating in a public tender for the concession of the Port of Corozal.In this first instance, companies expressed their interest to be considered in a possible pre-qualification process, which demonstrates the great demand for this service in the Panamanian Pacific coast, especially since the opening of the Canal expansion.

Railway Also Awaiting a Port in Corozal

October 2015

Panama Canal Railway Company plans to invest $75 million once the concession of the port is approved, which is still waiting for legislation to grant the concessionaire the same tax benefits that other port operators receive.

An article on Thebulletinpanama.com reports that the operator of the Interoceanic train (PCRC) "...

Panama: Netherlands interested in Port in Corozal

February 2014

Dutch companies will be taking part in the competition for the concession of the container port planned by the ACP in the vicinity of the Port of Balboa.

Companies from the Netherlands have shown an interest in developing a new container port in Corozal in the 46 hectares belonging to the Panama Canal Authority, as confirmed by the Dutch ambassador to Panama, Jakob Wiebe de Boer.

No Room for Expansion of Port of Balboa

October 2013

Panama Ports Company needs the lands near Corozal but these belong to the Panama Canal Authority which intends to build a new port.

"They are our (lands) and we will use them for our activities and they are not available to be sold to anyone," said Jorge Quijano, Canal administrator.

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