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Latin America Investment News on Viva Tropical

$600 Million Container Port in the Works for Colon, Panama

Article Summary:

The government of Panama has granted in concession of 27 acres in Isla Margarita to be used to build a container port at a cost $600 million.

Photo Credit: Prensa

Original Article Text From Prensa via Google Translate :

Build New Terminal In Colon

The construction of a container port, with a capacity similar to the port of Colon Container Terminal, which operates Evergreen in Columbus, was approved by the Cabinet.

This is a contract between the state and society Panama Canal Port Columbus Inc., for construction, operation and management of a container terminal and general cargo in Margarita Island, Columbus, at a cost of $ 593.9 million.

The 20-year concession agreement between the Maritime Authority of Panama and Colon Panama Canal Port Inc. shall be approved by the Comptroller General of the Republic and approved by the National Assembly.

The project will cover an area of ​​27 hectares in Margarita Island, where the construction of three berths with a capacity of 1.6 million TEUs or containers of 20 feet long.

Panama Canal Society Inc. Port Columbus was founded in 2008 and is chaired by Mathew Cantor.

Roberto Linares, Administrator of the Panama Maritime Authority (AMP), who sustained the project, explained that once the deadline of the 20-year concession the work will revert to Panamanian state.

With the construction of this new work is planned to generate about 800 places of employment in the construction phase and a thousand permanent jobs during operation of the terminal.

Link to Original Article:

From Prensa

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