The purpose of the multimodal logistics center now under construction is to connect the primary customs zone with the Colon area under the same tax regime, and the commercial areas of Coco Solo and Coco Solito.
The construction, being carried out by Constructora Urbana (Cusa SA) must be completed in 18 months.The project consists of building the entrance and exit building to the multimodal logistics center on Randolph Avenue, and the objective is to unify the primary customs zone with the area of Colon under the same tax regime as the expansion areas developed over the last 20 years in Coco Solo and Coco Solito.
The Panama Canal Authority expects to tender at the end of the year several logistics projects to be developed in 1,200 hectares of land in the canal zone.
The goal of the Panama Canal Authority is to generate value-added services around the extended canal, and according to the head the institution, Jorge Luis Quijano, several state companies from China have already expressed interest in participating in the development of these projects, which could be estimated at $1 billion and would be developed over a period of five to seven years.
Schencker from Germany, Blue Logistic from Colombia and the Panamanian companies J Cain & Co. and Colon Import, and two groups who preferred to remain anonymous, have expressed interest in participating in the project.
Joseph Fidanque III, manager of Tocumen S.A., said that when they have the plans for the free zone, which it is estimated will be in about four months, they will call a tender for the construction of the work, which is part of a cargo logistics plan, and includes an investment in the long-term of $70 million.For the first phase they have already approved $15 million, part of which will be used for soil conditioning and roadworks.
Ten companies have already shown interest in setting up in the logistics center to be developed in Tocumen, whose business plan and regulations for a free zone could be ready in September.
Among the activities that will be developed by the companies operating in the logistics park are packing and repacking, as well as product manufacturing and other complementary activities.
In an area measuring 200 hectares the airport administration will develop a free zone for logistics companies, investing $30 million in the first stage.
The airport administrators said that "... the plans focus on adapting the 200 hectares that are part of the land area of the cargo terminal, transforming them mainly so that they can be developed by companies working in logistics services, storage of goods, assembly, high - tech companies related to aviation and airports, processing of finished or semi - finished products, specialized health services, among other things. "
The area in the Pacific entrance to the Canal could be leased by the State for the construction and operation of logistics infrastructure such as warehouses, cold storage facilities, ship repairs and a port for vehicles.
The 1,200 hectares owned by the State and "discovered" after cleaning and dredging of the areas surrounding the Canal expansion are part of a development plan that the Ministry of Affairs of the Canal is preparing to start when the new locks come into operation. The initial proposal is to lease the land to private companies so that they can develop the area, providing logistics services, transportation and communications to related industries.
Technical studies are to be carried out to determine the feasibility of building an intermodal 'dry canal' between Puerto Armuelles, in the Pacific, and a complementary port in Bocas del Toro, in the Atlantic.
The Panama Maritime Authority has announced that it will be focusing first on the study to determine the most feasible business model for the project.
On November 5th and 6th industry experts will gather together in San Jose, Costa Rica, to discuss issues such as the impact of the deterioration of infrastructure on the economy of Central America.
The event which is being organized by the Latin American Center for Competitiveness and Sustainable Development (LACCSD) will focus on analysis on the status of ports, airports, roads and border crossings and their impact on the economy of the region.
Greater integration between the State and the business sector is essential to exploit the opportunities offered by the region's investment projects.
During the World Business Forum Latin America 2014, held in Guatemala, entrepreneurs from different sectors pointed to the need for increased connectivity and commercial traffic between South America and Central America, in order to take better advantage of investment opportunities in each of the countries, through the use of public-private partnerships.
An announcement has been made that the area for attention to freight will be expanded and in order to streamline processes, they will go back to using a guide in which carriers list the goods they are transporting.
The response from the Customs authorities in Chiriquí comes after a border closure caused by freight carriers from throughout Central American demanding streamlined procedures and improved services.