Go-Ahead for Odebrecht in PanamaFriday, July 24, 2015 In granting approval of the funding proposal put forward by the consortium Odebrecht / FCC for Metro Line 2, the Panamanian government has cleared any doubts about the participation of the Brazilian company. The Minister of Economy and Finance, Dulcidio De La Guardia, told Prensa.com that "... "We have been in talks with banks related to the project and the information we have, which is unofficial, is that the consortium has a valid financial bid and (the banks) have confirmed with us their intention to continue with the project.'" FCC-Odebrecht to Build Panamanian MetroWednesday, October 27, 2010 Line 1 Consortium was awarded construction of the first line of the Panama Metro. The winning consortium's proposal was $ 1,446 million, higher than the one presented by Italian Group Metro Panama which was 1,401 million. Odebrecht and Impregilo Submit Bids for Panama MetroTuesday, August 31, 2010 Only two consortiums have presented offers for the design and construction of the first line of the Panama Metro. The consortium led by Impregilo also includes Astaldi, Ghella and Ansaldo Breda Trains, while that led by Odebrecht also comprises Spanish owned FCC Construcción and Alstom Trains. Panama: Funding Sought for Metro Line 2Monday, January 16, 2017 The consortium formed by Odebrecht and FCC Construction is negotiating with international banks to redefine the funding structure for the project, valued at $2 billion. Since the start of the revelations of the corruption scandal in which the Brazilian construction company Odebrecht was involved, doubts have arisen about how this could affect financing of the construction project for Line 2 of the Panamanian Metro, whose contract was awarded in June 2015 under the turnkey format. 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." 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 Metro Line 2 Contract Signed with Odebrecht and FCCMonday, July 27, 2015 Metro de Panama has signed with the consortium CL2 a contract for $1.857 million for the construction of Metro Line 2, and now only needs approval from the Comptroller General. From a statement issued by Metro de Panama: Alstom to Build Cars for Panamanian MetroFriday, January 21, 2011 Valued at $ 270 million the Alstom group will manufacture in its plant in Barcelona the 57 wagons of the first Metro line. The company is a subcontractor of consortium FCC and Odebrecht, who will build the first subway line. Panamanian Metro Bid Will be Opened on October 29Tuesday, October 12, 2010 On that date, the opening of envelopes containing the proposals submitted by consortiums will take place. The companies which submitted bids are Consorcio Line One, composed of FCC and Norberto Odebrecht Construction with Alstom trains, and the Italian Group Metro Panama, consisting of Impregilo, Astaldi and Ghella with Ansaldo Breda trains. Panama Metro Begins ConstructionThursday, March 24, 2011 The project represents an investment of $ 1.500 million and its construction will be done by Consortium Linea 1, structured by Norberto Odebrecht and FCC. The formal start of construction of the project was made by a sound which instructed the immediate operation of equipment located in the Albrook area. Panama: Odebrecht and FCC to Build Metro Line 2Thursday, May 14, 2015 With an offer of $1.857 million, the same consortium that was in charge the development of Line 1, has emerged as the winner of the tender for the design and construction of Metro Line 2. Besides Odebrecht and FCC, the consortium UTE PANAM II, consisting of Dragados SA (Spain), Ingenieros Civiles Asociados SA de CV (Mexico) and Grana y Montero SA (Peru) bid in the tender for the construction of Line 2, and their proposal received a score of 317 points in the first evaluation, after bids were opened. Panama: Award of Metro Line 2 SuspendedThursday, May 21, 2015 A claim has been submitted by the consortium Panametro, denouncing irregularities in the evaluation process and the award. From a statement issued by Metro de Panama SA: Debt Issue to Finance Metro Line 2Thursday, July 27, 2017 The Swiss bank UBS is preparing a $619 million issue to partially finance construction of Panama's Metro Line 2, managed by Odebrecht and FCC Construcción. As early as February it was reported that, after Citibank's departure, UBS and Inbursa had expressed their interest in taking on financing for the project. "The issuance of notes will be done through Sparc EM, used by the Swiss bank to do these types of financing operations." Three Proposals for Metro Line 2Friday, February 13, 2015 Three consortiums made up of Chinese, Spanish, Peruvian, Brazilian and Mexican companies submitted bids for the design and construction of Line 2 of the Panama Metro. From a statement issued by the Metro Department of Panama: Tenders for Panama MetroMonday, March 19, 2012 Local companies will vie for the construction of train yards and workshops, to be put out to tender during 2012. The main contract for construction of the Panama City Metro international tender was awarded to the consortium Línea Uno, made up of Brazil's Odebrecht and the FCC, a contract worth $1.452 billion. |
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