A consortium headed by ICA's civil construction division has signed a fixed price construct worth approximately $238 million with Panama's ministry of public works to rebuild and widen the main highway running through the center of Panama City, called Avenida Domingo Díaz. "This announcement reaffirms ICA's commitment to continue expanding its engineering and construction capacity in selected Latin American markets.

The road, bridges and existing over- and underpasses will all need to be rebuilt or widened to cope with the increase from two to three lanes in both directions. Improvement works will also be carried out such as the relocation of drainage and other public services. The project is expected to take 36 months to complete.

The contract was awarded in an international tender process and the winning consortium is composed of 70% ICA and 30% Constructora MECO, S.A. The work adds approximately $166.6 million to ICA's 2011 project portfolio.

Source: Ingenieros Civiles Asociados (ICA)

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