The award is done after verifying the financial capability of the consortium and that its members have not broken any of the rules imposed by the Panama Canal Authority (PCA).

A week ago, Grupo Unidos por el Canal, composed of Sacyr Vallehermoso S.A., Impregilo S.p.A., Jan De Nul n.v. and Constructora Urbana, S.A., presented the best priced offer for the construction of the project. The proposed figure was $3.118 million, $363 million less than PCA's target price. Additionally this consortium obtained the highest technical score (4.088,5 out of 5.500).

Source: Presidencia de Panamá

More on this topic

Canal Expansion: Deal Signed For Completion of Works

March 2014

The Canal Authority and contractors from the Sacyr consortium, Impregilo and Jan de Nul signed the agreement reached to resume the works.

The Board of Directors of the Panama Canal Authority have authorized the signing of a contract with the consortium Grupo Unidos por el Canal, as agreed between the parties on 27 February.

August 25th: Key Date for the Canal

August 2009

The Panama Canal Authority ordered consortium "Grupo Unidos por el Canal" the start of construction works.

In the issued order, "GUPC is told that works must begin on August 25th, 2009. From that date on, the consortium has 1.883 days to deliver the project".

"Grupo Unidos por el Canal" is composed by Sacyr Vallehermoso S.A.

Canal Works to Start in September

August 2009

Before August 19, the Panama Canal Authority will order for starting construction of the third set of locks of the Panama Canal.

7 days after the Canal Authority gives the order, the consortium "Grupo Unidos por el Canal" (GUPC), will have 1.883 days to complete the project.

"Grupo Unidos por el Canal" Will Build Locks

July 2009

The winner consortium presented a $3,1 billion offer for the design and construction of the new set of locks of Panama Canal.

After months of rigorous technical review, the Panama Canal Authority (ACP) today determined the "" proposal for the new set of locks expansion contract.