Giving in an administrative concession the fourth bridge over the Panama Canal This is the current idea in the Ministry of Public Works (MOP).
Within the addendum to the negotiated contract, it is provided that Panama Fourth Bridge Consortium (CPCP) from the maintenance of the works, once they are delivered, which represents a reduction of 16.5 million dollars.
He The MOP is evaluating the granting of the bridge as an administrative concession, which would include its maintenance, operation and exploitation. If this step is taken, the measure that could be implemented is the collection of tolls for the transit of works, which the authorities have neither confirmed nor ruled out.
Another change to the contract is the costs associated with employment supervision, inspection and contractual and financial technical assistance of the projectwhich would be operated by another company, implying a contract increase of $45.6 million.
The addendum to the contract number AL-1-27-18 it combines a set of numbers, between costs increasing and decreasing, which ultimately brought the cost of the project from $1,518 million to $1,372.1 million.
However, fourth bridge contract price rises to $2,138.9 million, adding $766.7 million in financingwhose approval has delayed the resumption of work, which should take place in August, according to Public Works Minister Rafael Sabonge.
Of this figure, a consortium made up of companies China Communications Construction Company and China Harbor Engineering Companyhe received an advance of $70.2 million, which includes tax.’
16.5
Millions of savings are expected if the maintenance were to be given to a concession.
The main adjustments to the conceptual model were the removal crossing metro line 3thus keeping the width of the bridge at 36.5 meters, while retaining six lanes, with room to expand to eight lanes in the future.
Also, it was removed the restaurant that was supposed to be located in the west toweras well as viewpoint and vehicle access these additions to the work. All this implied a reduction of $19.5 million, however, to re-align the work so that, among other things, one of the docks of Panama’s ports would not be affected, an increase of $69.2 million was required.
The main reduction in the contracted price was achieved with reduction of the scope of work on bridge exchangerson both the east and west sides, which was $142.5 million.
new bridge It will be built according to the turnkey system. which, as explained, represents a smaller burden on the general budget of the state.
The extended construction period to 3,229 dayscounting from the authorization of the action order, which was on 04.12.2018.
This means that the delivery date will be for now October 8, 2027although the head of the MOP admitted that the bridge will be operational in the summer of 2028. With this project, there is already an estimate of when the works that are being built to speed up vehicle traffic between the capital and Western Panama will be delivered.
First, it is expected that widening of the Puente de Las Américas-Arraiján road which was built at a cost of $413.1 million, to be delivered on April 30, 2024, with an addition underway.
On the other side, metro line 3along with the tunnel under the Panama Canal, it is promised to start operating in the second half of 2026.
Source: Panama America
I am Jason Root, author with 24 Instant News. I specialize in the Economy section, and have been writing for this sector for the past three years. My work focuses on the latest economic developments around the world and how these developments impact businesses and people’s lives. I also write about current trends in economics, business strategies and investments.
