Panama Canal Lures Bidders for $3.2 Billion Project
Friday, November 16 2007 @ 02:03 PM UTC
Contributed by: Don Winner
The authority is now studying the proposals to determine which companies will be allowed to make formal bids for the work. That decision will be made within a month, the authority said today. The contract will be awarded by the end of 2008, and the decision will take into account price, methods of construction and estimate time for completion.
The winning bidder will build the locks on both the Atlantic and Pacific sides of the canal. The locks are enclosures with gates at each end that allow boats to be raised or lowered by either draining the locks of water or filling them up.
To contact the reporter on this story: Carlos Barletta in Mexico City at firstname.lastname@example.org Last Updated: November 15, 2007 18:49 EST