The Central American Bank for Economic Integration approved a $21.4 million extension for the financing of the "Project to Improve the Technical and Operational Capabilities of Puerto Corinto."
This extension brings the total amount guaranteed to $184.6 million, making it the largest investment in the country's port sector in recent decades, informed the Central American Bank for Economic Integration (CABEI).
The Supreme Court of Justice in Panama has accepted the appeal for legal protection brought against the construction project of a multimodal port in Isla Margarita, province of Colon.
The Environmental Impact Study (EIA) that Panama Colón Container Port Inc. submitted at the end of 2016 to build a port terminal has been temporarily voided, while the Supreme Court of Justice analyzes the case before issuing a definitive ruling.
The lack of tax incentives could be one of the reasons why no companies submitted bids in the tender for the concession of the port in Corozal in Panama.
The lack of bids in the tender for the concession of the construction and operation of a container port in Corozal West came as no surprise to some entrepreneurs in the maritime sector, who believe that lack of sufficient tax incentives could have influenced the decision of companies to not submit bids.The opposition that the project has generated and the lawsuits filed against it could also have weighed on the decision not to participate.
January 16 is the deadline for submitting proposals in the tender to build the port terminal in Amador, but some of the companies interested are asking for more time.
Attending the meeting to approve the specifications for the port were 43 representatives from companies such as Jan De Nul, CCA Civil Panama, Calypso, Foster + Partners, among others.The latter company made the design of the new terminal at Tocumen International Airport.
Panama risks losing out to regional competition in the logistics area if the project to develop a cargo port in the area of Corozal continues to be hindered.
From a statement issued by the Chamber of Commerce, Industries and Agriculture (CCIAP):
The Chinese Landbridge Group has acquired Panama Colon Container Port and will invest the $900 million required for the new terminal, whose construction will be the responsibility of the Chinese company CCCC.
China Communications and Construction Company (CCCC) will oversee the construction of the new port project on Isla Margarita, in the Atlantic province of Colon.
The Inter-American Development Bank has announced that it will provide a loan of $20 million to fund feasibility studies for a port in the Caribbean.
The funds provided by the entity will be used for studies needed to determine the characteristics of the area, the exact location and cost of building the infrastructure, as well as any possible environmental impact on the coast of Bluefields.
The Panama Canal Authority plans to publish conditions for the tender in August, after participants have completed a pre qualification process and consultation period.
Today March 11th is the date of receipt of proposals from companies interested in the construction and concession of the port. In November , the ACP announced that eleven companies had expressed interest in the project. Now it is hoped there will be at least four proposals so that there is an adequate level of competition with which to proceed with the tender.
A terminal in Bilwi, Puerto Cabezas, would streamline logistics of cargo which currently comes through the ports of Limon in Costa Rica and Cortés in Honduras.
If the plans of the National Port Company (EPN) are realised, the operator of the entire logistics system that involves moving goods through Nicaragua's northern Caribbean could significantly improve their times.
The Panama Canal Authority has been given the green light to start the process of prequalifying companies interested in bidding for the award of a container transshipment port in Corozal.
From a statement issued by the Panama Canal Authority:
The Board of Directors of the Panama Canal Authority (ACP) has authorized the administration to convene a pre-qualification stage for companies interested in participating in the international tender for the concession of a container transshipment port in Corozal.
Panama Canal Railway Company plans to invest $75 million once the concession of the port is approved, which is still waiting for legislation to grant the concessionaire the same tax benefits that other port operators receive.
An article on Thebulletinpanama.com reports that the operator of the Interoceanic train (PCRC) "... invested about $80 million in renovation and modernization in order to make initial annual capacity 400,000 containers.
The activity had gained momentum through the concession of a port in Corazal, but is losing it in the legislative halls of the National Assembly.
The old merchant´s saying is apt for illustrating the risk that Panama is taking by losing position in terms of regional competition in the logistics area.
An article on Prensa.com contains quotes by Jorge Luis Quijano, administrator of the Panama Canal Authority (ACP) who says: "The 'window' for making the decision to tender the concession of the container terminal in Corozal closes in six months... Abandoning this project would throw overboard any additional income generated by this port both for the Canal Authority and the State, besides missing out on the creation of hundreds of jobs in the construction phase and then during its operation. "
The construction of the new container terminal in Moin has rekindled business hotels, corporate machinery, transportation and others, in an area deprived of development factors.
Renting working machinery, hiring companies for events and renting hotel rooms are just some of the new business deals being generated in Limon, since construction of mega-port project at Moin started.
With the plans to build a highway between the Pacific and the Caribbean coast in mind, a proposal has been made to build a port in Bluefields, instead of the one planned in Monkey Point.
The Nicaraguan government announced that it has asked Taiwan to collaborate in order to finalize the project, and that the decision to change the location responds to the new road that will connect the Pacific and the Caribbean, precisely with the city of Bluefields.
A proposal has been made to develop a specialized Roll on-Roll off cargo terminal in the Pacific, to improve the management of vehicles and heavy equipment and create other opportunities for the automotive industry, such as automobile accessorization.
The proposal put forward by the Panama Canal Authority is to develop a specialized docking area for roll on- roll off ships, transporting vehicles to Panama, from where they are distributed to other markets. The aim is to promote the development of this type of cargo in Panama and lay the foundation for the development of other business lines that generate added value and chains. One of the activities that can be developed is dedicated to adding value to vehicles, called "accessorization".
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