Panama is set to receive its first container terminal designed to handle post-panamax vessels in Colon as the Panama Maritime Authority (AMP) and the Chinese consortium Panama Colon Container Port (PCCP) reached an agreement on the facilities.
Under the agreement, estimated to be worth around $US900 million ($F1.903b), the Chinese giant China Communications Construction Company (CCCC) is expected to build the terminal and the Beijing-based Port Design Institute (PDI) is set to design the piers.
The new project will consist of two parts including the construction of a container terminal with a capacity of up to 2.5 million TEUs and the additional private lands with multipurpose possibilities, including LNG facilities or energy projects.
Featuring four berths, the Colon container terminal will have a total quay line of 1200 metres with a draught of 18 metres.
The deal for the new terminal was signed during a recent conference organised by the International Association of Port and Harbours (IAPH).