Panama, July 3, 2008 - In a move that will result in better bids for the "design-build" contract for the new locks under the Panama Canal's Expansion Program, the Panama Canal Authority (ACP) will provide an extension for the locks proposal due date. The four global consortia in the running for the contract will now have until December 10 to submit their bids for what will be the largest and most important project under the $5.25 billion expansion.
The ACP received requests from the consortia to extend the proposal due date and has listened to their needs. Additional time given to the consortia will result in more fully developed bids on both the technical and price proposals, ultimately benefitting the expansion project.
"The extension falls within our Expansion Program execution timeline, which has a projected completion date of 2014," said ACP Executive Vice President of Engineering and Program Management Jorge L. Quijano.
This extension is in line with the overall timeline of the expansion project and the program remains on track. The ACP has already planned for such contingencies and other similar scenarios.
About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP's Web site: http://www.pancanal.com/.
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