Panama Launches Three Mega Projects in Infrastructure
Panama’s Government announces three mega projects in energy and transport infrastructureJune 15th, 2016
In anticipation of the upcoming opening of the Panama Canal expansion project, which will take place on Sunday June 26th 2016, the Panamanian government has announced three projects for almost four billion dollars.
The projects were announced by an official statement last May 26th. They include the construction of the first power plant based on natural gas from Central America, the line three Panama Metro and the fourth bridge over the Canal.
These mega projects are part of the five-year infrastructure plan of President Juan Carlos Varela , who has secured more than 19 USD billion in transportation, housing , basic sanitation and drinking water. International partners participated in the capital investment for the three megaprojects, continuing a series of successful investments in infrastructure launched by the government of Panama.
The first of the new three projects is the first plant based on natural gas in Central America, supported with an investment of over 1 USD billion. The new plant located in Colon will generate 381 MW of new energy, strengthening the country's energy capacity and creating nearly 2,000 new construction jobs. AES Corporation will develop the project.
The second project will consist of the construction of Line 3 of Metro de Panama and will be conducted by the Agency Japan International Cooperation Agency (JICA), which has committed to fund the project up to 2.5 USD billion and has given to President Varela the certification for the commencement of operations by the consortium of Nippon Koei Co, Ltd Tonichi Engineering Consultant, Inc and Nippon Koei Latin America-Caribbean Co as Project Managers.
The third project will focus on the fourth bridge over the Panama Canal. President Varela gave the order to proceed to T.Y Lin International, a US transportation and infrastructure engineering company, for the start of the project management, with an investment of more than $ 17 million.
Panama with this great series of projects will improve in all aspects. It is a strong financial bet, but it is not the first in the country.
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Carlota Auzmendi, CD News