Panama: Progress on Metro Line 3 ProjectTuesday, August 29, 2017 The evaluation committee has completed a review of the nine proposals submitted by the prequalified companies for the design and construction project for Metro Line 3. From a statement issued by Metro de Panama: Panama: Participants in Tender for Line 2 Can Offer FinancingWednesday, September 24, 2014 The tender documents for the construction of Line 2 of the Metro in Panama requests the companies to include project financing as an option. Once bids have been submitted by the companies concerned, the Panama Metro Secretariat and the Ministry of Finance will evaluate the proposed financing conditions in each offer, looking for "the best possible interest rate". 4 Bids for Metro Bus AdministrationWednesday, December 15, 2010 Sonda, Confya, Panama Card and Metro Recaudo submitted bids to manage the Metro Bus transportation system. The proposals ranged between $ 118 and $ 229 million. Tender for Line 3 of Panama MetroThursday, September 13, 2018 Specifications are being published for the design, construction of civil works, auxiliary installations, supply and installation of an integral system that includes monorail rolling stock for the third Line. According to details of previous studies, Line 3 of the Panama Metro will be located between the provinces of Panama and Panama West, covering part of the districts of Panama and Arraiján, running through an area that incorporates seven towns. The total area of influence of the project (directly and indirectly) is 1808.570 hectares, in which the area of direct influence occupies an estimated 160,697 hectares, while the area of indirect influence is 1647.873 hectares." MIGA Guarantee Backs Panama City Metro LineThursday, July 19, 2012 Infrastructure Project Will Ease Traffic Congestion in Capital City, Reduce Travel Times, Increase Access from Outskirts. The Multilateral Investment Guarantee Agency (MIGA)--the political risk insurance arm of the World Bank Group--today announced it is supporting the government of Panama's efforts to construct a modern and integrated mass-transit system as a solution to Panama City's urban transportation issues. Panama: Preliminary Agreement for Metro Line 3Friday, January 15, 2016 The Japanese government has pledged $2 billion to finance line 3, which will use technology from China with the construction contract being awarded in the first half of 2017. The governments of Panama and Japan have established the terms of the technical and financial "cooperation project for construction of Metro Line 3 between Panama and the province of Panama West. Colombian-Panamanian Company To Get Metro Bus ProjectWednesday, June 23, 2010 ‘Transporte Masivo de Panamá’, a Colombian-Panamanian consortium, achieved the highest score in technical merits and price, in a public acquisition to operate the Metro Bus transportation system. After reviewing the technical report, the evaluation committee will announce the definitive winner of the contest. Large Companies Notably Absent in Tenders in PanamaMonday, May 25, 2015 It is significant the absence of companies from countries where bribery abroad is criminalized in tenders for large scale government works in Panama. EDITORIAL Million Dollar Loans Approved for MetroFriday, October 21, 2011 The National Economic Council has approved two draft financing contracts for the construction of Metro Line 1, for $362 million. A press release from the Ministry of Economy and Finance of Panama states that New Funding for Line 2 of Panama MetroThursday, February 16, 2017 Reports state that the swiss UBS and Mexico's Inbursa are the banks that could lead the new financing structure for finishing construction of Line 2, which is currently 33% complete. Following the departure of the group of banks led by Citibank, the construction consortium FCC and Brazil's Odebrecht have informed the Secretariat of the Panama Metro that negotiations have now been finalised with two banks to secure financing to complete the work. Metro Bus Out to Tender on April 28Wednesday, March 31, 2010 The public bidding process for the Metro Bus transportation system has been pushed back once again. It was originally scheduled for March 29, was later moved to April 6, and yesterday the Panamanian presidency confirmed it will be officially done on April 28. Tender for Advertising on Panama MetroWednesday, October 29, 2014 The Secretary of the Metro announced that starting 2015 the trains and stations on Line 1 will have advertising spaces that will be offered through competitive tenders. Following the example of Hong Kong and Singapore, the Secretariat of the Metro will make available advertising space in stations and on trains, from which it expects to receive $25.2 million and will use some of those funds to pay for fare subsidies. Backup Electricity System for Panama MetroTuesday, April 18, 2017 Empresa de Distribución Eléctrica Metro Oeste will be responsible for the design and construction of a 10 MW backup electricity system for Metro Line 1. Metro de Panama received the approval of the Cabinet Council to sign the $4.6 million contract with Empresa de Distribución Eléctrica Metro Oeste (Edemet), which will build a back up system to prevent blackouts in the national electricity system from affecting the Subway service. Citibank Will Not Finance Line 2 of Panama MetroThursday, May 26, 2016 The consortium formed by Odebrecht and the Spanish company FCC will have to find a new bank to grant the funds that Citibank was supposed to provide under the original financing structure. The exit of Citigroup from the $1,857 million financing structure for the design and construction of Line 2 of the Panama Metro could be due to the recent deterioration in the risk perception of the Brazilian company Odebrecht, whose rating Fitch cut on May 3, citing the "... the increased risk and uncertainty associated with lack of publication of the financial statements of the company at the end of April." Panama Metro: Tender for Line 1 Expansion PostponedMonday, December 10, 2018 January 30, 2019 is the new date to submit proposals for the design and construction tender for the extension of Metro Line 1 to Villa Zaíta. The Metro de Panamá, S.A. carried out the third addendum to the tender specifications for the project, which includes design engineering services, construction of civil works, auxiliary line installations and stations, and interfaces with the integral railway system for the extension of Line 1 of the Panama Metro to Villa Zaita. |
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