Panama Buying Toll Highway
From Mexico's ICA
PANAMA (Reuters) - Panama's government said
on Thursday it was buying a toll highway
from Mexican construction company ICA for
US$420 million after complaints about
service.
The 12-mile (20 km) Corredor Sur highway
that connects Panama City to Panama's
international airport has been criticized
for long lineups at toll booths and was
recently forced by the government to undergo
an audit.
Panama's government said it was also
purchasing 51 percent of a second toll road,
the Corredor Norte, for US$280 million from
Mexican-owned PYCSA.
"We have successfully negotiated with the
Corredor Norte and Corredor Sur, respecting
legal certainty, respecting concession
operators' rights, without raising the
public debt," President Ricardo Martinelli
told reporters.
Shares of ICA were down 1.75 percent at
31.40 Mexican pesos. |
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