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Wednesday, June 20 2018 @ 08:44 PM EDT

ACP To Announce Winner of $3.35 Billion Dollar Contract This Week

Canal ExpansionBy DON WINNER for - On Wednesday this week the Panama Canal Authority will announce the winning consortium for a contract to design and build the third set of locks for the expansion of the Panama Canal, the largest single contract of the project expected to be worth as much as $3.35 billion dollars. The new locks will be much larger than the existing locks and will allow for the passage of the world's largest vessels. In addition the design will incorporate elements to reuse the water in chambers, rather than simply flushing the millions of gallons of water necessary for each ship to pass as is currently done with the existing locks. There are several consortiums competing for this contract, specifically the CANAL group, Bechtel (Japanese and US), and the "Grupo Unidos por el Canal" (companies from Spain, Italy, Germany, and Panama.) Experts from the Panama Canal have been reviewing the bids and proposals since March, and each bid has been graded using a scoring system. The group obtaining the best overall score, based on both the technical merits as well as the bid price, will be awarded the contract. If you would like to watch the opening of the envelopes live via a webcast, just click on this link to see the show, which will start at 9:00 am on Wednesday morning, 8 July 2009.

Copyright 2009 by Don Winner for Go ahead and use whatever you like as long as you credit the source. Salud.

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ACP To Announce Winner of $3.35 Billion Dollar Contract This Week
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