The Panama Canal Authority (ACP) has issued a Request for Proposals (RFP) to the four pre-qualified port operators selected to compete for the concession to design, develop, finance, construct, operate and maintain a container terminal located near Corozal, in the Pacific entrance of the Panama Canal.
As part of the Panama Canal Diversification Strategy, the Corozal Container Terminal will play an important role in providing additional port capacity on the Pacific side of Panama in order to support the transshipment needs of the larger vessels going through the Expanded Panama Canal.
The project will add to the waterway's already robust set of offerings for the maritime industry and further position Panama as the logistics hub of the Americas.
Upon completion, the container terminal will have the capacity to handle more than five million TEUs at the Canal's entrance in the Pacific side.
The two-phased project will include the construction of a 2,081-linear-meter-dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal.
Last year, the Panama Canal received interest from a number of international companies to compete for the project, and in April 2016, the names of the four pre-qualified companies able to bid were announced: APM Terminals B.V. (The Netherlands); PSA International Pte., Ltd. (Singapore), Terminal Link (France); and Terminal Investment Limited, S.A. (The Netherlands).
The four port operators have until February 3, 2017 to submit the required specifications and economic proposals for the 20-year concession.
In August, 2016, PTI reported that the Panama Canal could take much longer to become a new route for specific types of ships, with vessels such as oil tankers needing to undergo significant retrofits before they are able to fit through the new locks