Panama Ready to Award Main Contract for
Canal
By James Kraus
(Bloomberg) -- Panama is ready to
award the main contract to enlarge the
almost 100-year-old canal that traverses the
isthmus as early as this month, the Los
Angeles Times said, citing Alberto Aleman,
chief executive of the Panama Canal
Authority.
Aleman discounted reports that construction
on the $5.25 billion project might be
delayed because of the global economic
slowdown, the newspaper reported.
Bechtel Group Inc., in alliance with Taisei
Corp. and Mitsubishi Corp., has bid for the
contract, the newspaper said.
The two other groups that placed bids in
March include one led by Spain's Grupo ACS,
and another by Sacyr Vallehermoso SA and
Italy's Impregilo SpA, the Times reported.
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