Panama Canal project to get under way shortly
News - November 19, 2009
Construction of the new set of locks for the Panama Canal will begin in January, the consortium that holds the concession for the expansion project said.
“We’re at the beginning and there are a lot of bureaucratic hurdles, presentations to make, permits to acquire. The real work begins in January,” Antonio Zaffaroni, executive director of the GUPC consortium, said on Friday.
He added that for now it is all about “preparation, relocating the animals, cutting down the trees.”
Zaffaroni said the first phase of the project will involve excavation work, as well as setting up “the installations for producing concrete, crushed stone, cement and equipment for unloading the supplies.”
GUPC, a consortium led by Spanish company Sacyr Vallehermoso, won the contract to build a third set of locks for the canal, beating several other contenders with a US$3.1 billion price proposal, said Herald Tribune.
The proposal was the lowest offered among the three consortiums participating in the final phase of the bidding and was under the $3.4 billion ceiling set by the Panama Canal Authority. GUPC also won out because it received the highest score in a technical evaluation.
The international consortium, which also includes Italy’s Impreglio, Belgium’s Jan de Nul and Panama’s Constructora Urbana, will have five years to complete the project.
Construction of the third set of locks is considered the big prize in the Panama Canal expansion project, a huge undertaking estimated to cost US$5.25 billion that still has one project remaining to be put up for bidding.
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