Eleven port operators set to bid for Port of Corozal

12 November 2015 (Last Updated November 12th, 2015 18:30)

The Panama Canal Authority has reportedly announced that a total of 11 port giants have shown interest to engage in a public bidding for the Port of Corozal.

The Panama Canal Authority has reportedly announced that a total of 11 port giants have shown interest in engaging in a public bidding for the Port of Corozal.

The companies include Terminal Investment Limited and APM Terminals, EUROGATE Container Terminal Wilhelmshaven and Hamburger Hafen und Logistik, Carrix and Ports America, Hyundai Engineering & Construction, CMA-CGM Group, Evergreen International Corporation, Panama Ports Company, China Shipping Ports Development Co. and China Harbour Engineering.

The concession, which will be for 20 years, will require an investment of $600m-$625m, dredgingtoday.com reported.

"It further demonstrates the demand that exists for service on the Pacific Coast of Panama, a demand which will only grow with the opening of the expanded Canal in 2016."

The port will have a handling capacity of more than five million TEUs within a 120ha area owned by the Panama Canal and
include the construction of a 2,081-linear-meter-dock, a container yard, offices and warehouse facilities.

Panama Canal administrator Jorge L. Quijano was quoted by media sources as saying: "We are thrilled at the sizeable interest we have received so far.

"It further demonstrates the demand that exists for service on the Pacific Coast of Panama, a demand which will only grow with the opening of the expanded Canal in 2016."

The new port will be located on the Pacific side of the canal, and is expected to help in the ‘development of Panama as the logistic hub of Latin America.’

The Panama Canal Authority has reportedly announced that a total of 11 port giants have shown interest to engage in a public bidding for the Port of Corozal.