Panama Canal Receives Bids, Dry Excavation
The Panama Canal Authority (ACP) received four bids on Dec. 22, moving the ACP one step closer to awarding the fourth dry excavation (PAC-4) contract under the waterway’s Expansion Program. Now, the ACP will thoroughly analyze the technical and financial submissions and award the contract in the coming weeks.
Similar to the three prior dry excavation projects, the ACP will award the contract to the firm with the lowest-priced bid that meets all of the requirements stated in the request for proposals. Over the next few days, the ACP will review the documents submitted by the lowest bidder to verify the company’s experience, technical capacity, financial strength and bonding before awarding the contract.
Below are the companies that submitted bids and the corresponding bid prices:
COMPANY BID PRICE
Jan de Nul – Chec $359,102,231.18
ISC Panamá $294,913,000.00
(Note: All prices in U.S. dollars.)
“We marked an essential milestone today with the receipt of the PAC-4 bids and appreciate the interest from each competing firm,” said ACP Executive Vice President of Engineering and Program Management Jorge L. Quijano. “As the second largest expansion contract, PAC-4 represents the most complex project after the construction of the new set locks. As usual, this will undergo the same fair, rigorous and transparent contracting process.”