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American Shipper

Panama awards dredging contract

Panama awards dredging contract

      The Panama Canal Authority has awarded Dredging International N.V. a contract to dredge an area of the Panama Canal's Gatun Lake.

      The dredging project is another integral element of the canal's expansion program.

      Dredging International N.V., whose bid of $39.98 million was the lowest of a half-dozen received, will widen and deepen the existing navigational channel by dredging about 4.6 million cubic meters in the northern most reaches of the man-made lake. Other bids ranged from about $57.9 million to nearly $98 million.

      Jorge L. Quijano, an executive vice president with the authority, said the agency has worked with Dredging International before and was “confident in its proven expertise to deliver this important component of the expansion program.”