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Saturday, May 26 2018 @ 05:37 PM EDT

ACP Issues Order to Proceed on Dry Excavation Contract

Canal Expansion The Panama Canal Authority (ACP) issued today, Friday, the order to proceed for the fourth and final dry excavation contract for the Pacific Access Channel (PAC-4). This contract is part of the program to expand the Panama Canal, with the total project valued at $5.25 billion dollars. The winning consortium submitted all required performance bonds for payment and insurance during the first ten days after the contract was awarded on 7 January 2010. Now, with this order to proceed, the consortium ICA-FCC-MECO has 1,288 calendar days to finish this important phase of the expansion project, which should conclude on or before 2 August 2013, according to a press release from the ACP. This channel, located on the West bank of the Canal between the Pedro Miguel and Miraflores locks, will complete the construction of a 6.1 kilometer long channel that will link the new third set of locks on the Pacific side of the Panama Canal to the Culebra Cut. This project also includes the excavation, removal and disposal of approximately 26 million cubic meters of material. The ACP awarded this contract to the consortium ICA-FCC-MECO, after the contractor submitted the lowest bid, complying with the requirements in the bid sheet. (Source: La Prensa)
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