Government will decide if megaport project continues
<<Return to News
Government will decide if megaport project continues
October 23, 2007
After the Supreme Court of Justice’s decision to not admit the support of guarantees presented by
Hutchison (Panama Ports Company) against the bidding to build a megaport in the Farfan area,
the government must evaluate if development of the project will continue.
The prequalification bid conditions – in which 29 companies participated, among them Hutchison
– warned that no they would not pre-qualify proposals by individuals, companies, consortiums, or
associations that administered or possessed port or terminal installations in Panama’s Pacific
Coast area, in order to avoid the creation of a monopoly.
These conditions left Panama Ports Company excluded. The appeal has been presented by the
firm Watson and Associates, who consider that the order violates the company rights or
fundamental guarantees, recognized in the constitution.
Panama’s administrator of its Maritime Authority, Fernando Solorzano, confirmed that the
Supreme Court of Justice did not accept the appeal presented by Panama Ports Company and
that the government should evaluate if the process will continue.
A couple of months ago the case’s chief justice, Alberto Cigarruista, had circulated the appeal
among the rest of the Court’s members.
Five companies had been selected during the prequalification process: APM Terminal of
Denmark, Cosco Pacific of China, Port Singapur Authority, Marine Terminal Corporation of the
United States and Hutchison Port Holdings of China, which administers the port of Balboa and
Cristobal. APM Terminal, which represents the shipping line Maersk, recently informed that they
are no longer interested in the project. According to Solorzano, there are many opportunities for
port development in the Pacific, where Balboa is located.
<<Return to News
Government will decide if megaport project continues
October 23, 2007
After the Supreme Court of Justice’s decision to not admit the support of guarantees presented by
Hutchison (Panama Ports Company) against the bidding to build a megaport in the Farfan area,
the government must evaluate if development of the project will continue.
The prequalification bid conditions – in which 29 companies participated, among them Hutchison
– warned that no they would not pre-qualify proposals by individuals, companies, consortiums, or
associations that administered or possessed port or terminal installations in Panama’s Pacific
Coast area, in order to avoid the creation of a monopoly.
These conditions left Panama Ports Company excluded. The appeal has been presented by the
firm Watson and Associates, who consider that the order violates the company rights or
fundamental guarantees, recognized in the constitution.
Panama’s administrator of its Maritime Authority, Fernando Solorzano, confirmed that the
Supreme Court of Justice did not accept the appeal presented by Panama Ports Company and
that the government should evaluate if the process will continue.
A couple of months ago the case’s chief justice, Alberto Cigarruista, had circulated the appeal
among the rest of the Court’s members.
Five companies had been selected during the prequalification process: APM Terminal of
Denmark, Cosco Pacific of China, Port Singapur Authority, Marine Terminal Corporation of the
United States and Hutchison Port Holdings of China, which administers the port of Balboa and
Cristobal. APM Terminal, which represents the shipping line Maersk, recently informed that they
are no longer interested in the project. According to Solorzano, there are many opportunities for
port development in the Pacific, where Balboa is located.
<<Return to News
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
 |
