July 13, 2010

Within its first year, the current government has already tendered more than $3 billion in large projects. With $13 billion planned for public investments, the projects have drawn the attention of the largest construction firms worldwide.

The most ambitious project is the construction of Panama’s Metro estimated at $1.5 billion according to the Ministry of Economy and Finance (MEF). Three consortiums from Spain, Japan, Brazil, Italy, France and Mexico have been qualified to take on this project. The other major urban transportation improvement project is the Metro Bus with a reference price of $270 million.

The government also has several major projects that include building five new hospitals that will cost even more than the Metro Bus project, and six consortiums from Spain, Korea, the Dominican Republic and Colombia have already presented their offers.

Although the tender for the improvements and expansion of Panama’s Tocumen International Airport began with the previous government, the actual government finalized the process and awarded the contract to two Colombian firms for $68.65 million. Likewise, the contract for the expansion of the Enrique Malek Airport in David, Chiriquí, was awarded to an Argentine firm for $27.4 million.

The government’s five-year plan includes substantial investments in highways. Among those will be the widening the highway between David and Boquete, and the highway between Divisa and Chitré in the Azuero peninsula; extending the Coastal Beltway to San Felipe in the Old Quarter, as well as to the Amador Causeway; finishing the Panama-Colon expressway; widening the Inter-American highway between David and Santiago, as well as the highway between Arraijan and La Chorrera; and a new highway between Howard and the Centennial Bridge.

The government has many other carefully planned projects which will benefit the country in general and attract more tourism and investments.

Others News