The complex will be developed in a 300 hectare area, which was purchased by Tocumen SA for $109 million.
A press release from the Tourism Authority of Panama reads:
After completion of the North Terminal, the next projects planned by Tocumen are the airport city "Aeropolis" and the Dock and South Terminal, valued at approximately $750 million.
The "Aeropolis" project, consisting of commercial, hotel and hospital infrastructure, requires around $400 million, while the Dock and South Terminal is expected to cost $350.
With an investment of $100 million, the construction company will deliver the work between 15th and 20th January.
Juan Carlos Pino, manager of Tocumen SA, told media that the new areas will be used immediately.
"Pino explained that operations will be carried out in only two of the 12 new boarding gates and part of the operational area, where is baggage moved and aircraft re-fuelled and re-stocked with food supplies.
The plan is for a 20 gate terminal that is completely independent from the current one, with an investment of $350 million.
Transit through Tocumen International Airport grew by almost 20% during 2011, reaching 6 million passengers, up from the 5.1 million recorded in 2010. It is estimated that in 2012 the figure will be between 6.4 and 6.6 million.
Authorities have signed contracts worth over $4 million for various urgent projects.
Air conditioning, garbage collection and X-ray inspections are some of the services that the airport has contracted directly, after having signed emergency declarations, the prequisite to exempt them from the contractor selection process.
In this way, airport authorities will expedite the procurement process and gain time to advance the implementation of these projects.
The company Foster and Partners is interested in participating in work on the new terminal on the south side of Tocumen International Airport.
The company, which designed an airport in Hong Kong Airport and one in Shanghai has expressed interest in participating in the bidding process to be held next year, said the president of the Board of Tocumen, Frank de Lima, at the end of Panama Invest which took place in London and Paris.
Tocumen S.A. has put out to tender extension works north of Tocumen International Airport.
According to the specifications the tender is for the Study, Design and Construction of the North Side extension, Terminal Building,Tocumen International Airport.
The approval meeting is scheduled for 21 September 2011 in the Training Salon at Tocumen International Airport, third level.
Tocumen and Howard Airports are planning new terminals for private planes.
Soon the 300 plus private planes landing in Panama City every month may be able to do so in a new air terminal, which will require, in principle, an investment of about $3 million.
The investment will be made jointly by the airport administration and private companies who have shown interest in participating in the project.
The works scheduled to start at the Panamanian airport in 2012 and 2015 will be advanced for the end of 2011.
Airport management, driven by increased passenger volumes and the interest of new airlines to operate at the terminal, have forced construction of the South Pier, which was expected to begin in 2012 and the new building for immigration planned for 2015.
Tocumen, the International Airport of Panama, subscribed a $75 million loan to build infrastructure.
A $75 million loan was subscribed between Tocumen International Airport, “Banco Nacional de Panama”, “Caja de Ahorros” and the Bank of Nova Scotia Panama, to build the northern section of Tocumen International airport, explained Finance Minister Frank De Lima.
Tocumen International Airport would be negotiating the purchase of 300 hectares of land for its expansion plan.
The lots are owned by the University of Panama (Universidad de Panamá), who would be engaged in conversations with the Airport's administration to close the deal.
The expansion of Tocumen Airport was awarded to the Colombian Consortium Aerotocumen, whose bid was $68.65 million.
The contract includes construction of a new terminal, remodeling the main facade, a new presidential lounge, an administration building and other logistical facilities.
According to the report published in prensa.com: "The Colombian consortium submitted the lowest bid, but two of its competitors (Constructora San José and Odebrecht) called for their disqualification because they did not meet several requirements from the list of duties, from legal aspects to the lack of experience of the personnel proposed for the project."
The administration of the Tocumen airport has postponed the delivery date for offers in the bidding process for the construction of the north dock until October 20.
The process is almost two months behind; the original date for presenting offers was September 1.
With the expansion, Tocumen's capacity will be doubled; during the first semester of this year there was an increase of 22.1% in the number of passengers with regards to the same period in 2007.
Bids will be opened in July for construction of the new north terminal of Panama City's Tocumen Airport.
The biggest contract to be awarded, for an estimated 33 million dollars of the 57.6 million needed for the entire project, will be directed toward building the new north terminal.
The winning bidder will have 15 months to develop the new terminal.