China's Landbridge Group to acquire Panama's largest port
According to sources, Landbridge Group, a comprehensive enterprise specialized in infrastructure based in Rizhao, China, has recently acquired the port located on the Marguarita island in Panamá. The company has plans to upgrade and redevelop the port.
Landbridge Group plans to construct a modern and efficient deep-water port with four container berths and an annual capacity of 300 million TEUs. The company has appointed China Communications Construction Company (CCCC) to carry out the port upgrading works.
The port has a strategic location at the Atlantic entrance to the Panama Canal and within the large Colon Free Trade Zone, which is a large entity near dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean.
Additionally, the Panama Canal expansion will double the capacity of the channel by:
- increasing the number of ships and adding a new lane of traffic, and
- increasing the size of ships by increasing the maximum allowed width and height.
Country news
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May 05, 2016
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Four port operator companies have been shortlisted during the Request for Qualifications (RFQ) for the project of the Corozal Container Terminal. Read more -
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The deadline had been postponed three times since the RFQ was launched on 25 November 2015, after bidders requested more time to submit their qualification proposals. Read more -
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The Government of Panama, through the Ministry of Economy and Finance (MEF), launched on March 7th a Request for Qualifications to build a government building through a PPP project. Read more -
May 15, 2014
Acciona wins DBF contract for Panama hospital
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