Canal winners confirmed

The Panama Canal Authority (ACP) has confirmed that its preferred bidder, the Grupo Unidos por el Canal consortium, has won the contract for the US$ 3.22 billion project to construciton two new flights of locks on the Panama Canal.

The consortium comprising Italy's Impregilo, Sacyr (Spain), Somague (Portugal), Jan De Nul (Belgium) and Constructora Urbana (Panama) was announced as preferred bidder last week. It has now been formally awarded the contract, with a signing ceremony due to take place in the next month.

According to consortium leader Impregilo, the project will involve some 6000 workers, and is due for completeion by the end of 2014, the year that marks the centeneary of the Canal's opening.

The scheme will see two new sets of locks built - one on the Atlantic and another on the Pacific Ocean side of the Canal. These will increase the capacity of the canal by allowing larger ships - known as Post-Panamax vessels - to be accommodated.

Impregilo CEO Alberto Rubegni said, "The company and its engineers and workers are enormously proud of this result. The award of one of the world's largest and most complex infrastructure projects ever is the result of detailed technical and organisational studies and economic-financial analyses, and reflects the level of excellence achieved by the Impregilo Group."