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Panama Canal Authority Begins Countdown to Pacific Entrance Dredging for Expansion

Date: 19-MAR-2008

ACP RECEIVES BIDS FOR DREDGING PROJECT

PANAMA CITY, Panama, March 19, 2008 - After months of preparation, interested bidders submitted proposals to the Panama Canal Authority (ACP) today for an opportunity to dredge the Expansion Program's Pacific entrance. This phase of the project will widen the Canal's 8.9 mile-long (14.2 km) navigation channels at least 715 feet (218 meters) and deepen them to a maximum level of -51 feet (-15.5 meters) Mean Low Water Springs (MLWS) to ensure that longer, wider ships can reach the new locks.  

The ACP will review the bids and award the contract to the bidder that offers the best price and meets the project's terms and criteria established in the Request for Proposal (RFP).  

On August 30, 2007, the ACP released its RFP for the Canal's Pacific entrance dredging and has previously held site visits and an informational session to answer questions regarding the contract. 

"The momentum surrounding this project has been great. Most of the world's major players in the dredging industry have shown interest," said ACP Projects Management Division Manager John Langman. "We need a firm with keen expertise and the necessary equipment on-hand to do the specialized work, which includes the dredging of approximately 12 million cubic yards (9.1 million cubic meters). We look forward to reviewing the bids and awarding the contract to the company that best meets the needs of the project."

The ACP expects to award the contract in the coming weeks and work will likely begin during the third quarter of this calendar year. 

The ACP Expansion Program will build a new lane along the Panama Canal through the construction of a new set of locks, which will double capacity and allow more traffic and longer, wider ships.

About the Panama Canal Authority (ACP)
The ACP is the semi-autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the 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 Web site: http://www.pancanal.com/. For Panama Canal video, please visit www.thenewsmarket.com/panamacanal.

 


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