Contracts Worth $4 Billion Awarded by Panama Canal

On 30 June the Panama Canal Authority (ACP) awarded over $4 billion worth of contracts.

Tuesday, July 27, 2010

The contracts relate to canal expansion works with a total value of $4.041 billion.

The report presented 30 June by ACP provides details of the works and sets in motion the construction.

More on this topic

Progress Report on Canal Expansion

July 2014

An agreement has been made to grant an extension of 651 days for the delivery of the work on the Pacific inlet, changing the termination date of the contract to May 31, 2015.

From a statement issued by the Panama Canal Authority:

Panama City, July 23, 2014. - The Panama Canal Authority (ACP) has issued and delivered to the supervision authorities the XXXI Quarterly Report on Progress with Contracts in the Expansion Program, in compliance with Law 28 of 17 July 2006.

Panama Canal Expansion Awarded $4 Billion in Contracts

May 2010

As of March 2010, the Panama Canal Authority (PCA) had awarded $3,993 million in contracts related to enlarging the Panama Canal.

$331.7 million have already been disbursed, according to data from the PCA.

As for the progress of the project, the Authority reported that the excavation of the Pacific waterway, known as phases 3 and 4, is 63% and 9% ready respectively.

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.

Panama looking to become global logistics center

August 2008

The widening of the Canal will keep the country in the center of global trade and will provide the opportunity for it to become a global logistics center.

Estimates from the Panama Canal Authority (ACP) project that the container load passing through the Canal will grow by an annual rate of 5.6%, up from 98 million tons in 2005 to close to 296 million tons in 2025.

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