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Latin America Investment News on Viva Tropical

Panama Investing $490 Million in Port Expansions

Article Summary:

Three of the main ports in Panama are under expansion at a value exceeding $490 million. Many of the expansions are to meet the new demand that comes with the commissioning of the third set of locks of the Panama Canal.

Photo Credit: Panama America

Original Article Text From Panama America via Google Translate :

Expanding local ports

The three main ports of Panama currently running on an expansion plan that exceeds $ 490 million. Some of these expansion programs are focused to meet the new demand that comes with the commissioning of the third set of locks of the Panama Canal.

Panama Ports Company (PPC) revealed that in the port of Balboa are investing more than $ 140 million in the construction of over 20 hectares of container storage yard and in the acquisition of three gantry cranes and 13 gantry cranes superpostpanamax of playground equipment and additional handling of containers will be delivered soon.

For its part, Cristobal Colon, PPC is investing another $ 50 million in building container yard and multimodal infrastructure connection between port and rail. “We also ordered five additional gantry cranes for delivery in 2013,” said Marketing Manager PPC, Rommel Troetsch.

Manzanillo International Terminal (MIT), located in Columbus, also reported that an investment program carried out within the master plan of about $ 300 million including construction of docks for container ships, port cranes superpostpanamax, construction of additional patio area for container storage, container handling equipment in the yard and technology, additional work to deepen the access terminal to 16.5 meters.

Vice President of Marketing at MIT, Juan Carlos Croston, said the investment plan seeks to expand the terminal capacity to handle cargo (TEUs will increase from 2.2M to 4M TEUs) and will expand the terminal’s ability to handle post-Panamax vessels with cranes and draft.

Croston reported that during 2012 will receive three gantry cranes (2 and 1 superpostpanamax postpanamax), 6 RTGs, will conclude the construction of a temporary dock for Ro-Ro ships and move forward with other infrastructure projects.

He stressed that the company has a workforce of 1200 employees and continue to offer an aggressive training program.

In total, the Panamanian ports have invested more than 2 000 $ 90 million since its privatization in order to better serve their customers and remain competitive. To date, the port of Manzanillo International Terminal (MIT) has invested over 600 million dollars, including training and human resource development in the area of ​​Columbus.
PPC has invested over a billion dollars in both ports.

Port Importantes
1000 has invested millions of dollars from PPC that took the ports of Balboa and Cristobal.
600 million invested about Manzanillo International Terminal port.
2 billion, have invested about Panamanian port terminals

Link to Original Article:

From Panama America

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