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Friday, April 19 2019 @ 02:25 PM UTC

Panama Ready to Award Main Contract for Canal, L.A. Times Says

Canal Expansion
Expansion of the Panama Canal
Expansion of the Panama Canal
By James Kraus (Bloomberg) -- Panama is ready to award the main contract to enlarge the almost 100-year-old canal that traverses the isthmus as early as this month, the Los Angeles Times said, citing Alberto Aleman, chief executive of the Panama Canal Authority. Aleman discounted reports that construction on the $5.25 billion project might be delayed because of the global economic slowdown, the newspaper reported. Bechtel Group Inc., in alliance with Taisei Corp. and Mitsubishi Corp., has bid for the contract, the newspaper said. The two other groups that placed bids in March include one led by Spain's Grupo ACS, and another by Sacyr Vallehermoso SA and Italy's Impregilo SpA, the Times reported.
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