Preferred bidder for US$ 3.12 billion Panama Canal locks

By Richard High08 July 2009

The Panama Canal Authority (ACP) has announced the "best value" proposal for the new set of locks ex

The Panama Canal Authority (ACP) has announced the "best value" proposal for the new set of locks expansion contract is by the Grupo Unidos por el Canal consortium - Sacyr Vallehermoso, Impregilo, Jan

The Panama Canal Authority (ACP) has named the Grupo Unidos por el Canal consortium - Sacyr Vallehermoso, Impregilo, Jan De Nul and Constructora Urbana - preferred bidder for the US$ 3.12 billion lock upgrade contract.

Three consortia competed to win the contract, which ACP describes as being the "largest and most important contract under the Canal's expansion programme." The other two consortia comprised Bechtel, Mitsubishi and Wuchang Shipbuilding, and ACS, Acciona and Hochtief.

The decision was made on a points system that considered price and technical merits of each proposal to find the one that offered 'best value'. This was weighted 55% towards technical considerations and 45%on price.

Grupo Unidos por el Canal's proposal submission came in at US$ 3.12 billion, below ACP's budget of US$ 3.48 billion. ACP expects to award the contract in the next few days and will formally announce the winner on its website: www.pancanal.com

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