Panama: Tender for Road Expansion

The Martinelli administration is proposing a "turnkey" tender for the expansion of the InterAmerican Highway to four lanes between Santiago and David, before the end of his term.

Thursday, November 1, 2012

As outlined in an article in Prensa.com, "The Minister of Economy and Finance, Frank De Lima, announced yesterday at the seventh National Competitiveness Forum that before the end of the current administration there will be a tender for the expansion to four lanes of the Inter-American Highway between the cities of Santiago de Veraguas, and David, Chiriquí. Speaking earlier, the Minister of Public Works, James Ford, said they are working on the basis that it would be a 'turnkey' project. "

Although officials said they were studying other financing options, they stated that "There is a high probability that the company will have to provide 100% of the funding."

Minister Ford said the studies were in the early stages and expected the tender to be launched in the first quarter of 2013. This work has been announced on several occasions, by various administrations, but has never taken shape.

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More on this topic

Charges Added to Turn Key Project for Financing

November 2013

$120 million for "financing costs" will be added to the charges resulting from contracts from the tender for the expansion of the Inter-American Highway in Panama.

"... The project could end up costing $1.092 billion, because in the resolutions for the award of contracts, signed by the Minister of Public Works, Jaime Ford, additional amounts have been included for "financing costs" and "costs associated with the Ministry of Public Works (MOP) ", reported Prensa.com.

Panama: Tender for Road Widening for $850 million

August 2013

The proposed expansion and rehabilitation of 185 kilometers of the Inter-American highway from Veraguas to Chiriqui is being divided into five parts to be tendered separately.

The information was released by the chief of Public Works, Jaime Ford. This amount is $100 million more than the $750 million suggested by the Ministry of Economy and Finance (MEF).

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May 2013

Panamanian Congress will resume discussion of the bill that immobilizes bearer shares.

Frank De Lima, Minister of Economy and Finance, has sent a report to the Organization for Cooperation and Development (OECD) to report on the postponement of the project in response to a letter from the Organization requesting a report on Panama's efforts in this area.

Road Works Tender in Panama for $700 Million

March 2013

In mid-2013 authorities will put out to tender the renovation and widening to four lanes of 280 kilometers of road between Santiago de Veraguas, and David in Chiriqui.

Prensa.com reported that "the announcement was made by the Minister of Public Works, Jaime Ford, in an interview with Telemetro Reporta, in which also said that the estimated cost of the works will be around $700 million."

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