Panama Canal Awards the Largest Expansion Contract Thus Far
 Paving the way for construction, the Panama Canal Authority ACP awarded the third and largest expansion contract to dredge the Pacific sea entrance. The ACP kicked off this next phase of expansion awarding the contract to Dredging International. The dredging of the Pacific sea entrance is essential to provide enough draft and width for longer, wider ships to pass and enter the new locks.
"As the third and largest expansion program contract in terms of volume, geographical spread and price awarded to date, the selection of Dredging International is a critical next step in the creation of the new lane. This is a solid, top-tier global dredging firm with the know-how and equipment we need to commence the job at hand and complete it on-time and within budget," said ACP Executive Vice President Engineering and Program Management Jorge Quijano."We received bids from the industry s dredging leaders and now we look forward to issuing the order to proceed to Dredging International over the coming days so that they can begin their mobilization effort promptly.
"Dredging work in the Pacific sea entrance is expected to begin during the third quarter of this calendar year. When expansion concludes, as shown in this rendering of the Pacific sea entrance, the dredging project will widen the Canal s approximate 9 mile-long 14 km navigation channels to a minimum of 715 feet 218 meters and deepen them to a maximum level of -51 feet -15.5 meters Mean Low Water Springs MLWS .
The ACP released its Request for Proposal RFP for the contract August 30, 2007, and previously held site visits and an informational session to answer questions regarding the project. On March 19, three bidders from two countries submitted proposals to dredge the Pacific sea entrance. After a thorough review of the lowest priced proposal, the ACP awarded the contract to Dredging International. The 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 Dredging International
Dredging International is one of the most important dredging companies in the world and its proposal for the Panama Canal includes the utilization of some of the most advanced equipment that the industry has to offer. Dredging International is also working on other important projects around the world such as the construction of Port 2000 in Havre, France and the deepening of channels in Rio de la Plata located at the Argentina and Uruguay border.
Panama Canal Expansion Named Best Long Term Performance Project
• CANAL RECEIVES "STRATEGIC PROJECT OF THE YEAR" award IN Latin america
• CANAL DEPUTY ADMINISTRATOR RECOGNIZES PANAMANIANS FOR THEIR FORESIGHT
Panama Canal Authority ACP Deputy Administrator/CFO José Barrios Ng was presented with the "Best Long Term Performance Project" and "Strategic Project of the Year" awards for the Panama Canal Expansion Program at the 6th Annual CG/LA Infrastructure Latin-American Forum held at the Miami Marriott Biscayne Bay. Every year, CG/LA Infrastructure forms a committee to select executives and companies that have demonstrated remarkable strategy, clear vision and prominent ideas to move the region forward.
The panel made up of sponsors from different countries recognizes those executives and companies for their leadership. The Panama Canal Expansion Program received two awards: "Best Long Term
Performance," as it will be ongoing for at least five years, and the "Strategic Project of the Year" award in Latin America. Other countries that were also awarded for their infrastructure initiatives were Mexico, the Dominican Republic and Costa Rica.
"We are honored by this recognition and I share this with the best asset of the Canal, our hard-working world-class work force. This award also represents the foresight of all Panamanians whose support has been instrumental in making this project a reality," said Deputy Administrator/CFO José Barrios Ng.
Expansion will build a new lane of traffic 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 which will transform global trade.
For All your Panama Investment, Panama Travel or Panama Real Estate needs, contact Douglas M. Choy at ThinkPanama.com. He will be happy to provide any guidance and information you may need.
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