Panama Canal receives phase 3 excavation bids

Panama Canal receives phase 3 excavation bids The Panama Canal Authority said Thursday it has received six bids for the third of four dry excavation projects associated with the $5.2 billion expansion of the canal.
   The winning bidder, to be selected later this month, will be responsible for removal and disposal of 8 million cubic meters of material, building a 2.5 kilometer access road and clearing explosive and munitions remnants from 190 hectares of land that used to be part of a U.S. military training facility.
   The third and fourth excavation phases will create an access channel connecting the new Pacific locks with the canal’s existing Gaillard Cut, the narrowest stretch of the canal.
   The canal authority plans to award the contract to the lowest bidder that meets technical, financial and bonding requirements.
   The construction companies and their respective bids are:
   ' Conalvias-Retraneq, $61.3 million.
   ' Constructora Santa Fe Ltd., $46 million.
   ' Corporaci'n M&S Int., $45.2 million.
   ' Constructora Urbana S.A., $38.2 million.
   ' Constructora Meco S.A., $36.7 million.
   ' Cilsa Minera Mar'a, $74.7 million.
   The Panama Canal Authority said the expansion program remains on track and on budget. The new set of locks will enable much larger ships to transit the canal and is expected to change North and South American trade patterns.
   A signing ceremony is scheduled for next Tuesday to formalize $2.3 billion in previously announced financing agreements from five multilateral lending institutions.