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$603 Million Dollars Awarded in Tenders in Panama

$603 Million Dollars Awarded in Tenders in Panama [October 2016]

By in Blog with 0 Comments

Big news from Panama: a whopping $603 Million Dollars have been tendered and awarded by the Ministry of Public Works (@MOPdePanama), including some major road improvements on the Pan American Highway in the Darien, Chiriqui, Veraguas provinces and the Ngäbe Buglé community. Another big work, called “Trabajando por tu barrio” (“Working for your neighborhood”), has the goal of improving rural roads and enriching the quality of life of thousands of citizens.

The tenders, from high to low:

  1. $148.5 million dollars, for the design and rehabilitation of the Pan American Highway between Agua Fría and Yaviza in the province of Darien.
  2. $96 million dollars for the the widening of “el corredor de los pobres” (“the poor man’s corridor”) for the Pedregal-Gonzalillo-Transístmica roads in Panama City.
  3. $72.9 million dollars for the rehabilitation of the Veraguas, Chiriquí and the Ngäbe Buglé community rural roads.
  4. $70 million dollars for a program called “Trabajando por tu barrio” (“Working for your neighborhood”).

The companies that won the biggest contracts under this administration of the MOP are Constructora Meco from Costa Rica and Cusa (@cusa_panama) and Bagatrac from Panama.

These projects come right after some major ones that are nearing it’s end, like the road expansion between Santiago de Veraguas and David in the province of Chiriqui ($1,085 million dollars), which now is close to 90% completion, the road between Puerto Armuelles and the border in Paso Canoas ($114 million dollars) — at 89% completion and the widening of the Amador Causeway ($66.6 million dollars) — at 84.2% completion.

These tenders are being executed under the government of Juan Carlos Varela, whose 5 year term runs thru 2019.

About The Author

Kent Davis, founder and Managing Director at Panama Equity real estate, has been widely quoted in publications such as Wall Street Journal, Time Magazine, The Miami Herald and the Financial Times for his unabashed views on the Panama real estate market. Panama Equity is regarded as one of the most active real estate agencies in Panama and Kent’s articles, reports, and market research projects have been syndicated by press agencies including Bloomberg and the Associated Press.   Connect with the Author via: Email | LinkedIn | Facebook | Google+

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