The Panama Canal will begin talks with companies to launch a competitive tender for the construction and operation of two new ports within its territory in the first quarter of next year.
The ports are part of a broader expansion plan organized by the waterway authority. This plan aims to enhance cargo handling services, including transshipment, storage, and gas transportation, as well as ensure freshwater supply for operations.
During a conference, waterway administrator Ricaurte Vasquez stated, without going into details, “There is significant demand for facilities and terminals.”
Senior executives of the Panama Canal Authority had previously announced plans to invest approximately $8.5 billion over the next five years to upgrade and expand the waterway’s infrastructure.
The construction of a major dam to contain the Indio River and create a new water reservoir, a key project included in the planning, will be reviewed by Panama’s Supreme Court after affected communities filed a lawsuit last month.
The source also added that preparations are underway for another tender to present a project for constructing a liquefied petroleum gas pipeline within the canal zone, and the tender could begin next year.
U.S. President Donald Trump threatened this year to take over the Panama Canal following criticism from his administration over China’s growing influence in the Central American country.
Meanwhile, Panamanian President Jose Mulino decided to terminate a 25-year concession agreement with Hong Kong-based CK Hutchison for the operation of two major ports outside the canal zone, following criticism over the contract terms.
On Thursday, CK Hutchison announced that a $22.8 billion deal to sell most of its global port operations, including two ports in Panama, to a group led by BlackRock and shipping company MSC is “highly likely to be accepted.”
