PSA Panama Invests Big in Terminal Expansion
- Business & Finance
PSA Panama International Terminal (PSA Panama) has started work on the expansion of its container terminal, located on the west bank of the Panama Canal Pacific entrance.
The expansion is targeted to be ready for operations before the end of 2016, in conjunction with the commercial opening of the expanded Panama Canal.
PSA Panama will invest over USD 400 million in the terminal expansion, and will create 1,000 direct and indirect jobs during the construction phase and over 500 direct and indirect jobs during operations.
The new terminal will have 11 quay cranes with a maximum outreach of 24 rows and over 1.1 km of berth. The investment into civil works amounts to USD 285 million, while the value of equipment will be over USD 125 million.