The Panama Canal Authority will begin consultations with companies in the first quarter of next year to launch a competitive tender for the construction and operation of two new ports within its zone, a source involved in the preparations said Thursday.
The ports are part of a broader expansion plan aimed at enhancing cargo handling, transshipment, storage, gas transportation, and ensuring sufficient water for operations.
"There is a large demand for facilities and terminals," said Ricaurte Vasquez, head of the waterway, without providing further details.
The Panama Canal Authority did not immediately respond to requests for comment, though its top executives have previously indicated plans to invest around $8.5 billion over the next five years to update and expand infrastructure.
Key projects include building a large dam to contain the Indio River and create a new water reservoir, currently under review by Panama's Supreme Court following a lawsuit from affected communities. Another upcoming tender will cover a liquefied petroleum gas pipeline project within the canal zone.
The Panama Canal expansion comes during international scrutiny, including U.S. concerns over China’s influence in the country.
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