PHOTO: PSA Panama Expansion on Track
- Business & Finance
The expansion of the PSA terminal in Panama as well as the construction of the 800-meter long quay wall are taking shape.
With the beginning of the quay and dredging works, a major step forward has been taken to transform PSA Panama International Terminal into a 2 million-TEU (20-foot equivalent units) facility, PSA Panama said in its latest release.
The expansion, which was approved by Panama’s National Assembly last year year, is scheduled to be made operational in the first half of 2017.
It involves the dredging and excavation of approximately 4 million cubic meters of material, as well as the construction of an 800-meter quay wall.
When fully operational, PSA Panama will be able to handle two mega ships simultaneously.
New container handling equipment to be added includes eight new super-post-Panamax quay cranes as well as 12 rail-mounted gantry yard cranes. All in, the expansion will be achieved at an investment cost of approximately $450 million.
After six months of design and tendering process, the first contracts were awarded to Jan De Nul and Saipem.