Canal Expansion Going According to Plan

Despite the economic crisis, the Panama Canal Expansion Program is being executed according to the planned time lines and budgets.

Monday, June 22, 2009

In March, contracts for services, consultants, and construction projects were awarded. They expect to award one of the most important contracts, the design and construction of the third set of locks, in July.

La Estrella publishes in its web portal the comments of Ilya Marotta, the executive manager of Resource Planning for the Expansion Program of the Panama Canal Authority (ACP): "One of the greatest challenges that the expansion has faced is that it has to to be executed during a global economic crisis....The ACP, of course, is considering the possible effects of the world crisis, but it does not expect any delays or postponements up to now."



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More on this topic

Canal Expansion: Between a Rock and a Hard Place

January 2014

The construction consortium has rejected the proposed solutions one by one, as they know that being replaced would be more expensive for the ACP than to acquiesce to its demands.

EDITORIAL

The alleged light at the end of the tunnel that led to an agreement in principle to resolve the alleged illiquidity of Grupo Unidos por el Canal (GUPC), was dimmed when the consortium led by Sacyr and Impregilo returned to its extremist position: Pay the overruns of $1.6 billion, or the works will be halted.

Panama Canal Expansion: 70% of Contracts Already Awarded

October 2009

Up to September, the Panama Canal Authority had awarded contracts for $3.674 million, 70% of the total cost of the project.

One of the most important contracts remaining is the one involving dry excavation for ship navigation on the Pacific side.

Newspaper Prensa reported: "In its last quarterly report, the institution reported the awarding of the largest contract: the $3.118 million construction of the third set of locks, won by Group Unidos por el Canal".

Canal Expansion from Within

June 2009

Over $5 billion in total investment, 12.6 million cubic meters of earth removed, 2,600 workers and the world's largest dredger.

Withstanding high temperatures and humidity, the 1,389 operators who are currently working on the expansion project are making a great effort so that the companies that got the expansion contracts can meet established deadlines.

Panama Canal Expansion to be Awarded in July

May 2009

Experts are reviewing technical aspects of the largest contract worth $5.25 billion, and contract adjudication is expected by July.

The president of the Panama Canal Authority (ACP), Alberto Alemán, made the announcement at the Reuters Investment Forum on Latin America.

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