Panama releases Corozal tender

The companies will compete to design, develop, finance, construct, operate and maintain the container terminal.

Jorge L Quijano, Panama Canal’s administrator, said: “What we’ve seen confirms the strong demand existing for the Canal and the need for greater port capacity on its Pacific side.”

He added: “We’re eager to advance the development of the Port and will ensure the concession is delivered through a transparent and participatory bidding process to bring the best performance possible to the Canal and, therefore, the country.”

ACP’s board of directors made the decision to authorise the RFQ following the news that 11 of the world’s largest port operators had formally expressed an interest in developing and operating the Corozal port.

The Corozal Container Terminal will provide services to reposition empty containers and handle local cargo, it is the first of several planned projects which aim to enhance the countries logistics capacity.

Among the requirements for the project is the need to develop a green terminal in order to limit the impact it will have on the environment.

This green terminal will have anti-noise perimeter walls and electrical devices which would produce zero carbon emissions, as well as other elements recommended by a recent Environmental Impact Study (EIS).

Over the predicted two year construction period, it is expected that the project will create up to 1,300 jobs. When the terminal is fully-operational it hopes to produce 2,600 permanent jobs.

The ACP will release a Request for Proposal and tender for prospective companies after the pre-qualification stage.