CANAL

Lock designs delayed

The international consortia competing for the contract to design and build a third set of locks in the Canal have asked the Autoridad del Canal de Panamá (ACP) to extend the deadline for submitting their design plans and final offers.

Antonio Zaffaroni of Sacyr Vallehermoso, the Spanish construction company heading up the Grupo Unidos por el Canal, requested that the ACP allow the various companies two extra months to process information recently acquired. The current deadline falls on August 22.

Gilbert Salvi, the leader of the Consorcio Atlántico-Pacífico de Panamá and regional director of the French company Bouygues, insisted that the results of an investigation into seismic conditions in the Canal had delayed the planning process for all of the interested parties.

Director of Exterior de ACS Miguel Manchón agreed with the proposed two-month extensión, highlighting the ACP´s efforts to raise reimbursement funds for the companies that lose the bid for the contract. Lock designs alone could cost around $10 million.

The consortia also expressed concerns about meeting bank requirements for financing the construction work, which will need to be guaranteed for roughly $850 million.

The ACP is hoping to receive financial assistance from American sources, while bearing in mind the tenuous state of American markets.