Panama: Participants in Tender for Line 2 Can Offer Financing

The tender documents for the construction of Line 2 of the Metro in Panama requests the companies to include project financing as an option.

Wednesday, September 24, 2014

Once bids have been submitted by the companies concerned, the Panama Metro Secretariat and the Ministry of Finance will evaluate the proposed financing conditions in each offer, looking for "the best possible interest rate".

Prensa.com reports that "... The contractor must submit a letter that says they have the necessary funding for the implementation of 100% of the project. This will be one of the points that will be evaluated for the award, but eventually the state will decide if it accepts the structure proposed by the contractor. The MEF will analyze the proposal and "the different financing options so that the State can determine the most favorable financing for the Republic," states the specification document. "

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Panama: Progress on Metro Line 3 Project

August 2017

The evaluation committee has completed a review of the nine proposals submitted by the prequalified companies for the design and construction project for Metro Line 3.

From a statement issued by Metro de Panama:

The Evaluation Commission, which is responsible for reviewing the technical proposal for the international prequalification of the "Design Engineering Project, Construction of Civil Works, Auxiliary Line and Station Installations, Supply and Installation of the Railway System which includes rolling stock (monorail) and start-up of the system for Line 3", has finished reviewing of proposals submitted by the 9 participating consortia.

Debt Issue to Finance Metro Line 2

July 2017

The Swiss bank UBS is preparing a $619 million issue to partially finance construction of Panama's Metro Line 2, managed by Odebrecht and FCC Construcción.

As early as February it was reported that, after Citibank's departure, UBS and Inbursa had expressed their interest in taking on financing for the project.  "The issuance of notes will be done through Sparc EM, used by the Swiss bank to do these types of financing operations."

Panama: Hitachi of Japan in Line 3 of Metro

June 2015

In exchange for "soft" financing conditions, the Japanese company would be in charge of the electromechanical works of Metro Line 3.

Although negotiations between the two governments have not yet been finalised, the participation of a Japanese company in the execution of electromechanical works of the project is the condition for China to grant funding for the entire project.

Funding for Metro Line 2

September 2014

The Ministry of Finance has announced that the construction of Panama City's Metro Line 2 will be paid in tranches over a period of eight years from 2015 to 2022.

60% of the financing will be raised under the administration of President Juan Carlos Varela and 40% under the government administration to follow him.

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