Panama looking to become global logistics center

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.

Tuesday, August 26, 2008

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.
Last week the ACP reported that by 30 June 2008, 60 contracts for services, consulting, and works worth $296 million were granted in relation to the widening of the Canal, which will costs some $5.25 billion.

More on this topic

Canal Expansion: Between a Rock and a Hard Place

January 2014

The construction consortium has rejected the proposed solutions one by one, as they know that being replaced would be more expensive for the ACP than to acquiesce to its demands.

EDITORIAL

The alleged light at the end of the tunnel that led to an agreement in principle to resolve the alleged illiquidity of Grupo Unidos por el Canal (GUPC), was dimmed when the consortium led by Sacyr and Impregilo returned to its extremist position: Pay the overruns of $1.6 billion, or the works will be halted.

Canal Locks to Come From Italy

May 2011

The Italian company Cimolai will manufacture the gates for the new Panama Canal locks.

The 16 twenty eight foot gates that make up the locks of the new Panama Canal will be built by an Italian company that was subcontracted by Grupo Unidos por el Canal, led by the Spanish company Sacyr Vallehermoso.

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.

$300 Million from the World Bank for Panama Canal widening

November 2008

The World Bank announced that it will provide a loan of $300 million to Panama to finance the project for the widening of the Canal.

The loan will be channel through the International Finance Corporation (IFC), which Bank uses to provide loans to the private sector, and will be administered by the Panama Canal Authority (ACP), an autonomous Government entity which is responsible for the administration, operation and maintenance of the Canal.

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