Green light in sight for Panama’s Corozal hub

Panama’s National Assembly now has to vote on the project, after its review of the bill has been completed. Their decision is expected in early January.

The two-phased Corozal project will include the construction of a 2,081 metre dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal.

In phase one, 1,350 metres of docks and three berths for post-panamax ships will be completed, creating handling capacity of approximately 3m teu.

The Panama Canal expects that the Corozal tender will include a 20-year concession, renewable once for 20 years.

“Advancing the terminal in the Corozal region is a priority,” confirmed Panama Canal Administrator/chief executive Jorge Luis Quijano. “This new facility will result in a significant increase in inter-oceanic cargo traffic, enabling the Canal to add value to the route and customers, consolidate Panama’s position as an international logistics and maritime hub.”