The Panama Canal
Monday, June 29, 2009 7:54
Contract for Canal to be announced soon
According to media reports, citing the ACP, the contract for the canal expansion may be awarded within this month. The main contract, over and above a variety of additional smaller contracts, is for the expansion of the canal so that the post Panamax ships may utilize the canal too, significantly increasing the traffic as well as the potential income of the canal.
Alberto Aleman, chief executive of the ACP furthermore downplayed reports that the $5.25 billion project might be put on hold, due to current global economic conditions. The three groups have applied for the contract include Bechtel Group Inc , in alliance with Taisei Corporation and Mitsubishi Corporation; Spain’s Grupo ACS and Sacyr Valle Hermoso SA and Italy’s Impregilo SpA.
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