Bidding starts on Panama’s New Subway System

Bidding starts on Panama’s New Subway System
Written by T. Rob Brown (aka Roberto Chocolate)
Friday, 26 March 2010 13:11

Panama names firms that can bid on subway project
Wed Mar 17, 2010 7:56pm EDT

Stocks

Acciona, S.A.
ANA.MC
€83.26
-0.42-0.50%
6:50am EST

Mitsubishi Corporation
8058.T
¥2,361
+16.00+0.68%
12:00am EST

Empresas ICA S.A.B. de C.V.
ICA.MX
$31.51
-0.45-1.41%
12:00am EST

PANAMA CITY, March 17 (Reuters) – Spain’s Acciona, Brazil’s Construtora Norberto Odebrecht, and Italy’s Impregilo lead three consortia that will be allowed to bid on a $1.5 billion contract to build a Panamanian subway, Panama’s government said.

STOCKS

Bids to build a nine-mile (14 km) subway through Panama City will be due by March 31, the government said in a statement on Wednesday.

The exact target price for the contract has not been announced, but the finance ministry estimated the cost at $1.5 billion in February.

A winner could be announced in July and construction could begin before the end of this year, the government said.

Acciona (ANA.MC) subsidiary Acciona Infraestructuras leads the Cima consortium, which includes Japan’s Mitsubishi Corporation (8058.T) and Mitsubishi Heavy Industries, as well as Mexico’s Constructoras ICA (ICA.MX) and Spain’s CAF (CAF.MC).

Construtora Norberto Odebrecht leads the Linea Uno consortium, which includes Spain’s FCC (FCC.MC).

Impregilo’s (IPGI.MI) all-Italian consortium, Grupo Italiano Metro Panama, includes Astaldi (AST.MI) and Ghella. (Reporting by Sean Mattson, editing by Leslie Gevirtz

Post a Response

Post a Response