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.
The expansion, which was approved by Panama’s National Assembly earlier this 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 have been awarded to Jan De Nul and Saipem – construction contractors headquartered in Luxembourg and Italy respectively.
This endeavor will generate an estimated 1,000 jobs during the two years of construction, and at least 400 additional long-term jobs for the operation of the expanded terminal.
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