Farfan megaport in Panama shipwrecked.

Port companies lost interest in the project due to the widening of Panama Ports and the construction of the Rodman port.

Friday, November 28, 2008

The Farfan megaport has gone under. The $600 million project, which would have converted Panama into the Singapore of the Americas with regard to logistics, has come to an end. The global economic crisis was the last nail in the coffin.

The project was launched in 2005 as part of the current administration's big promises. However, it was immediately objected to by the Panama Ports Company, which was excluded from the bidding and which did not view the installation of a new port on the Pacific side of the Canal positively.

More on this topic

Negotiations for Farfan Megaport in Panama continue

January 2009

The consortium made up of Ports of America and Cosco Pacific are looking for the best way to move ahead in the face of rising costs along with the restriction of credit.

Prensa.com reports "We are discussing the matter with our partner to determine which is the best route to follow," explained Stephen Edwards, president of Ports America to the La Prensa daily.

Panama: Maritime industry terminal to be constructed

September 2008

At an investment of around $2 to 4 million, a group of members from the Maritime Chamber are pushing for the construction of a terminal on the Pacific coast (Farfan).

The project, which will be developed as a maritime service cooperative, will take 24 months to complete.
The terminal will have a loading and unloading passenger dock, a dock for unloading merchandise from supply ships, offices for shipping agencies, customs, quarantine, immigration, shops for the retail sale of spare parts for small boats, cold room, restaurant and depot, etc.

Panama's megaport hit with new legal action

June 2008

A new legal action claiming that the construction of a huge container terminal in Farfán, Panama is unconstitutional has surfaced. It is being presented by the lawyer Alana Herrera Pinzón.

The action was presented before the Supreme Court of Justice.
It was first brought before the Secretary General of the Court on June 6. It challenges the legality of Article 1 of Resolution 24, passed on April 7, 2008 by Cabinet.

Panama's megaport in the eye of the hurricane

April 2008

The decision of the Executive Branch to contract directly and without bids the construction of a 600 million dollar container terminal at Farfán has created distrust in Panama's business and political classes.

The move could be seen as a violation of the Fiscal Code. One politician, Guillermo Endara, president of the Vanguardia Moral de la Patria, called the move an administrative "atrocity" and said he would rescind the contract if he were elected in 2009.

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