Huge new infrastructure investments signal very positive Panama growth

This information just released from TranAmerican Data on economic growth.

A press release from the Presidency of the Republic of Panama is offering information on the Manzanillo International Terminal Expansion.

A $200 million investment has been announced which will be used to dredge the access channel, a new turning basin, three Panamax docks, more areas for containers and nine gantry cranes. The U.S. firm SSA Marine, through its subsidiary Manzanillo International Terminal in Panama, has announced plans to invest strategically in Colon over the next few years in order to expand the range of port services offered by this prestigious company to the shipping line companies.

The announcement was made on Wednesday December 7, with the participation of President Ricardo Martinelli, a ceremonial event where the CEO of SSA Marine / Carrix, Jon Hemingway, explained that future expansion of the port includes dredging the access channel, a new dock for maneuvers, 3 new docks for Post-Panamax ships, which will begin transit the waterway when the canal is expanded, additional areas for cargo storage and installation of 9 gantry cranes, three of which are already close to arrival. Additionally, new equipment will be acquired for handling containers at the port.

For his part, President Martinelli said that with the signing of Free Trade Treaty with the United States, more companies are interested in investing in Panama and Manzanillo International Terminal (MIT) is one of them, as the company recently made an agreement with the Government, through the Panama Maritime Authority, to formalize the processes that allows this important investment, the first one within the new framework of the FTA with the United States of America, to become a reality.

Forth Bridge Over the Panama Canal is being studied and planned now. The Panama Canal Authority (ACP) has put out to tender the studies and preliminary design of the 4th bridge over the Canal. The purpose of the contract is to provide the necessary analysis to determine the best alternative for a new bridge over the canal, on the Pacific coast, and produce a preliminary design, through which the ACP can complete the new bridge at a later stage.

Technical Specifications:

• Cable-stayed bridge in concrete, length 350 meters, at least 40 meters above sea level.
• The contractor shall have 455 days to complete the contract.
• Expected date of submission of bids is 20 January 2012.
• The approval meeting will be held on January 6, 2012.