The Panama Canal is advancing with the gas pipeline and two port projects, and this week it met with 11 companies to clarify questions about the port terminals. Both the gas pipeline and the ports will be concessioned, each with their own rules, different from one another, stated Vásquez. Ricaurte Vásquez, administrator of the Panama Canal, estimates that the announcement of prequalified companies, in the case of the ports, could be made in March, which depends on whether they can issue the tender documents before the end of this month or early January. Shipping companies need an exchange site, and it is on that platform that the Canal's ports will operate.
Business The two ports that the Canal will build in Corozal and Telfers Island would serve for the transit and exchange of containers, explained Ricaurte Vásquez. However, there is a volume that transits or is transshipped through the ports, and that is the market they are betting on. Once the meetings related to the ports are concluded, Vásquez stated that they will review what aspects of the projects can be improved, trying to be consistent with what the market can finance. The Panama Canal estimates a 25% increase in its revenue with the projects it is beginning to execute, which, in addition to the gas pipeline and ports, includes a land logistics corridor. It calculates that only one million containers are cargo, coming from or going to Panama. Vásquez mentioned that Panama does not generate a cargo volume comparable to other countries, such as Colombia. He added that they are receiving calls from all over the world from companies interested in the projects and informed that at the gas pipeline presentation, there were representatives from 45 companies, while at the port presentation, 32 attended. The Canal's administrator specified that they are reviewing the financial strength of the companies, as well as their experience, operational capacity, success in similar projects, cost overruns, and their relationship with the host country.
Regarding the gas pipeline, it is expected to be later, as it is a more complex project. With the fresh water reservoir of Río Indio, the interoceanic route hopes to have more water for human consumption and its commercial operation. Last week, the same was done with the gas pipeline, through which it is intended to conduct ethanol, propane, and butane. It is said that there are between 10 and 12 million containers in transshipment, a volume that is constantly growing, stated the administrator.
