Inauguration Ceremony of the Construction of Central America’s First Natural Gas Based Energy Plant, that will be developed by the AES company.
TEXT: Embassy of Panama in Tokyo, Japan
June 26th marks the opening of the Panama Canal Expansion, carrying a revolutionary impact on global shipping (increased accessibility and reduced costs) by doubling the Canal’s capacity.
Just a few weeks prior to that day, the government launched three new Infrastructure ‘Megaprojects’ carrying International investments and partnerships worth over 4 billion USD.
These projects are a continuation of a series of major infrastructure initiatives the government undertook as part of a 5-year development plan by President Juan Carlos Varela. The plan garnered investments in the areas of housing, transportation, water infrastructure projects and basic sanitation totaling up to over 19 billion USD.
The first of these projects comes in the form of constructing Central America’s very first Natural Gas-based Energy Plant, to be located in Colon. Worth over 1 billion USD, the AES Corporation has come to be in charge of its development through an international bidding process. The plant is set to generate 381 MW of new energy and strengthen Panama’s energy capacity, creating nearly 2,000 construction jobs for the people of Panama in the process.
Line 3 of Panama’s Metro promises monorail technology, new passenger stations, and shortened travel time by 50%, benefiting 20,000 passengers. The Japanese International Cooperation Agency (JICA) has provided President Varela with certification for launching the operations—This comes from the consortium of Nippon Koei Co., Ltd., Tonichi Engineering Consultant Inc., and Nippon Koei Latin America Caribbean Co. as official Project Managers. They will receive 35 million USD in funding from Panama and Japan, and JICA will be funding 2.5 billion USD for the project.
T.Y Lin International has received the President’s official ‘order to proceed’ with project management of the 17 million USD construction of the fourth bridge over the Panama Canal. Also, a pre-qualification process is ongoing to identify companies interested in participating in the billion-dollar project.