International interest in Corozal port

Joe Nielsen, executive director of APM Terminals for Latin America, confirmed to the La Prensa newspaper that his company is waiting for the tender to be published and that any subsequent bid will depend on terms and conditions.

“We recognise that Panama is a key player in both the world and regional logistics industry,” he added.

However, while the tender was due to be issued by the end of April, this could be delayed since legislation has yet to be approved by the National Assembly. The concession, which will be for 20 years, will require investment of $600m-$625m.

The Panama Canal Authority, which will issue the tender, expects to receive $25m from the concessionaire and a further $75m in the form of tariffs paid by additional vessel traffic generated by the facility.