Panama Canal's Corozal Terminal Moves Forward
The Panama Canal Authority (ACP) has issued a request for proposals 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.
The terminal is expected to 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 goal is to further position Panama as a logistics hub for 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.
Corozal Container Terminal will be developed as a "green port" with environmentally-friendly standards that minimize its impact on the community and provide solutions to address transportation, noise and air pollution issues.
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.