Metro Line 2, the fourth bridge over the Canal, Renewal of Columbus, the second terminal of Tocumen International Airport, are the largest investments to be made between 2016 and 2019.
The largest projects in Panama are already bidding process or walking and comprise investments in the order of $ 5.200 million for the period 2016-2019, the Minister of Economy and Finance, Dulcidio De La Guardia said.
Metro Line 2, the fourth bridge over the Panama Canal, Colon Renewal, the second terminal Tocumen International Airport and the third and fourth power transmission line are the biggest investments for the next four years.
Contrary to public opinion of the slowness of the government in the execution of works, the Minister of Finance explained that the projects progress and investment for Line 2 Metro de Panama is $ 2.100 million and a demand of 240 is expected thousand users daily.
The state mega-project was tendered and awarded in 2015 and work began in October 2015.
In the case of Metro Line 3 Panama, proveeduría the agreement signed with the Government of Japan began operations in 2017.
According to De La Guardia, investment for the fourth bridge over the Panama Canal is $ 1.400 million. This structure will be integrated with the Metro Line 3. Additional reported that the bidding process for the technical administration has already started.
‘The third and fourth power transmission line will cost $ 800 million. The third line amounts to $ 350 million and the fourth line, will cost $ 450 million “, – Dulcidio OF GUARDIAMINISTRO OF ECONOMY AND FINANCE.
He explained that the transformation of Columbus is a government project that has a cost of $ 500 million and will benefit 25 thousand families. The works were initiated in 2015.
The second terminal of Tocumen International Airport, the official stressed that the cost is $ 800 million and will add twenty gates that will double current capacity. ‘The work has a 60% advance’ he said.
‘The third and fourth power transmission line -detalló the minister will cost $ 800 million; the third line amounts to $ 350 million and has 800 megawatts of capacity, and has a 60% complete, while the fourth line will cost $ 450 million and will have a capacity of 1,800 megawatts. “
According to De La Guardia, as a result of government investment and sustained economic development, they have born new business opportunities in all sectors. For example, he said, tourism has been made daily flights to 81 cities in America and Europe. ‘It is estimated that Tocumen double its traffic to 15 million passengers by 2019’.
For the official, mining is another new business opportunities and copper mine building First Quantum is the best example. ‘With this project, which is expected to be completed in 2017, it seeks to tar LT Harvest 50 billion pounds of copper, 12 million ounces of gold and 250 tons of molybdenum.
It also stressed that energy Chevron and Vopak are improving and increasing fuel terminal on the Atlantic side of the Panama Canal, in addition to the two gas terminals to be built: the AES, with an investment of $ 800 million and which will come into operation in 2018, and Gas to Power Panama, with an investment of $ 900 million, which comes into operation in 2019.
De La Guardia also highlighted the investment of $ 1.000 million in Chan II hydroelectric project in Bocas del Toro, whose operations begin in 2019.
In terms of logistics a new port on the Pacific and the investment of $ 450 million made by PSA, which are added to the Panama Canal expansion project, a work that exceeds $ 5.250 million and will open new opportunities are pending, according to the minister, value-added logistics.
In that sense, the president of the American Chamber of Commerce of Panama, Aristides Chiriatti said that Panama needs to further open its expanded positioned the country as a logistics hub Canal as soon as possible.
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