The president of Panama, Juan Carlos Varela, has given the green light to T.Y Lin International to start project managing construction of a fourth bridge over the Panama Canal.
The US-based infrastructure engineering company won an international tender for the work likely to cost around US$17 million, according to local media.
Pre-qualification has started for companies interested in participating on the billion-dollar project.
The new bridge is one of three infrastructure projects within a five-year development plan recently announced. The other two are construction of Central America’s first natural gas power plant and Line 3 of Panama’s metro.
The announcement comes just ahead of the opening by the Panama Canal Expansion authorities of a major project that widened the canal to allow canal use by ships with cargo capacity of up 20 TEU.
Panama Canal expansion project, also called the Third Set of Locks Project, is intended to double the capacity of the Panama Canal by adding a new lane of traffic and increasing the maximum allowed width and height. The new larger size of ships, called New Panamax, is about one and a half times the current Panamax size and can carry over twice as much cargo.
The US-based infrastructure engineering company won an international tender for the work likely to cost around US$17 million, according to local media.
Pre-qualification has started for companies interested in participating on the billion-dollar project.
The new bridge is one of three infrastructure projects within a five-year development plan recently announced. The other two are construction of Central America’s first natural gas power plant and Line 3 of Panama’s metro.
The announcement comes just ahead of the opening by the Panama Canal Expansion authorities of a major project that widened the canal to allow canal use by ships with cargo capacity of up 20 TEU.
Panama Canal expansion project, also called the Third Set of Locks Project, is intended to double the capacity of the Panama Canal by adding a new lane of traffic and increasing the maximum allowed width and height. The new larger size of ships, called New Panamax, is about one and a half times the current Panamax size and can carry over twice as much cargo.
