The Panama Canal Authority
(ACP) took one step closer to breaking ground for the expansion of the Panama Canal Tuesday
, when it officially awarded the first expansion construction project contract to Constructora Urbana S.A.
The selection process began May 7, when the ACP released its request for proposals to begin the first of five dry excavation projects to create the new Pacific Locks access channel. This new channel will link a new, third set of locks on the Pacific end of the Canal with the existing Gaillard Cut (the narrowest stretch in the Panama Canal). This project represents approximately 16 percent of the total excavation for the new Pacific Locks access channel.
At a special ceremony on July 6, the ACP reviewed the bid submissions for the first dry excavation of the new Pacific Locks access channel. The chart below shows the companies that submitted bids and their corresponding bid price. The ACP selected the lowest priced proposal that met all of the project’s requirements.