The Panama Canal Authority (ACP) has released a Request for Qualifications (RFQ) to develop, design, finance, construct, operate and maintain the Corozal container terminal.
The concession, which will be for 20 years, will reportedly require an investment of $600m-$625m.
The new terminal will be used to distribute cargo to the region, including the West Coast of South America, Central America and the Caribbean while also providing services for the repositioning of empty containers and handling local cargo.
Located in the east bank of the entrance waterway of the Pacific side of the Panama Canal, the container terminal is set to be constructed in two phases.
The first phase will include the design, development, financing, construction, operation and maintenance of a 4429ft berth with a quayside depth of 59ft, a container yard, gates, buildings and operational facilities.
It will also cover any other operational infrastructure, services, utilities, lighting, signalling, appurtenances and shops besides other requirements for efficient and safe operation of the berth and container yard.
Upon completion, the berth will accommodate up to three Postpanamax ships simultaneously and the Container Terminal will be able to handle a throughput of approximately three million TEU containers per year.
The second phase of development will include the design, development, financing, construction, operation and maintenance of an additional 2398ft berth with a quayside depth of 59ft along with other facilities.
The berth will accommodate up to two post-panamax ships at the same time.
The Corozal Container Terminal is expected to have the capacity to handle an additional throughput of approximately two million TEUs per year.
ACP has conducted several studies to assess the feasibility of the Corozal Container Terminal including a conceptual design study to determine the economic basis, basic layout and design for the terminal and the operating conditions, including the preliminary infrastructure and equipment required.
The research was followed by a feasibility study covering market demand, capacity, preliminary environmental evaluations and financial matters was completed.
Recently, the ACP 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.