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Panama Canal Releases Request for Qualifications for Corozal Port

Date: 26-NOV-2015

Panama City, November 26, 2015 - On Wednesday the Panama Canal Authority (ACP) issued a Request for Qualifications (RFQ) for companies interested in competing to design, develop, finance, construct, operate and maintain the Corozal Container Terminal.

The decision by the ACP Board of Directors to authorize the RFQ follows the news this month when 13 of the world's largest port operators formally expressed an interest to develop and operate the Corozal Port.

Panama Canal Administrator Jorge L. Quijano commented on the strong interest the ACP has received:

"What we've seen confirms the strong demand existing for the Canal and the need for greater port capacity on its Pacific side," said Mr. Quijano. "We're eager to advance the development of the Port and will ensure the concession is delivered through a transparent and participatory bidding process to bring the best performance possible to the Canal and, therefore, the country."

The Corozal Container Terminal will be located at the Pacific entrance of the waterway, and is intended to be a common user container transshipment terminal which will distribute cargo to the region, including the West Coast of South America, Central America and the Caribbean. It will provide services to reposition empty containers and handle local cargo, and is the first of several planned projects to enhance the country's logistics capacity.

Among the project's requirements, is the need to develop a "green" terminal to limit impact on the environment. The planned terminal would feature anti-noise perimeter walls and electrical devices producing zero carbon emissions, along with a number of other elements recommended by a recent Environmental Impact Study (EIS).

The final decision to develop the container terminal was made based on more than two years of studies and simulations to ensure the project's financial and operational viability.

Simulations conducted under the supervision of independent national, foreign and Panama Canal pilots confirmed that the terminal site will be suitable for the safe maneuvering of Neo Panamax vessels. And simulations conducted in the Canal's access channel proved that traffic could be maintained while port operations took place. As an added step, the ACP has widened the channel to increase traffic capacity and further create efficiencies for ships and workers, alike.

Over the two year period of its planned construction, the project will create 1,300 jobs. Once operational, the terminal will produce up to 2,600 permanent jobs. The land for the concession is accessible to the ports on Panama's Atlantic side.

Following the pre-qualification stage, the ACP will release a Request for Proposals (RFP) and tender for prospective companies.

The current RFQ is available at: http://www.pancanal.com/eng/procsales/special.html.

About the Panama Canal
The Panama Canal is run by an autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority (ACP) is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP's website: http://www.pancanal.com or follow us on Twitter @thepanamacanal.


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