The Panama Canal Authority (ACP) has extended the submission date for the proposals to build the new set of locks. The four consortia vying for the contract will now have until March 3, 2009 to submit their bids for what will be the largest and most important project under the $5.25 billion expansion program.
The ACP received requests to extend the bid submission due date and, with the success of the Expansion Program in mind, has agreed to extend it to March 3, 2009. The additional time given to the consortia will result in more fully developed bids on both the technical and price proposals, ultimately benefitting the project.
The expansion process continues to be on track and moving along as planned, the ACP said in a statement.
Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks that will double capacity and allow more traffic and longer, wider ships.