PANAMA CANAL RECEIVES BIDS FOR PACIFIC ACCESS CHANNEL ENTRANCE EXPANSION PROJECT

News Release Panama Canal Authority August 9, 2010

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PROJECT REPRESENTS LAST MAJOR
EXPANSION CONTRACT TO BE AWARDED
 
PANAMA CITY, Panama,
August 6, 2010 – The Panama Canal
Authority (ACP) received three bids today from international firms vying to
dredge and excavate the Pacific Access Channel (PAC) entrance. This project
represents the last major Expansion Program contract to be awarded and once
completed, will allow larger ships to successfully enter the new access channel
and reach the new Pacific Locks. Of note, the access channel will link the new
Pacific locks with the Gaillard Cut (the narrowest stretch of the Panama
Canal).
 
The ACP will award
the contract to the firm with the lowest-priced bid that meets all of the
terms and conditions stated by the tender in the request for proposals. The
contractor then has a 90-day procurement and mobilization period before
receiving the notice to proceed.
 
Below are the
companies that submitted bids and the corresponding bid prices. 
 
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COMPANY</TD>
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BID
PRICE</TD></TR>
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Jan De Nul</TD>
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$54,550,647.00</TD></TR>
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International
Underground Corporation</TD>
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$55,329,492.00</TD></TR>
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BKI-MECO</TD>
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$71,344,784.00</TD></TR></TBODY></TABLE>
(Note: All prices in
U.S. dollars.)
 
“Today’s bid opening
is an important step for this project and we look forward to awarding the
contract,” said ACP Executive Vice President of Engineering and Program
Management Jorge L. Quijano. “In addition, we are happy to have reached this
phase, where we will award the last major contract under the Canal’s Expansion
Program. Each day, we continually gain momentum and are well on our way to
meeting the deadline and staying on track for expansion’s completion in
2014.”
 
The scope of work for
the contract will include an estimated 4 million cubic meters of dredging and
excavation of the PAC entrance.
 
Moreover, the ACP
will ensure all of the work meets specific environmental
requirements.
 
Expansion will build
a new lane of traffic along the Panama Canal through the construction of a new
set of locks, which will double capacity and allow more traffic and longer,
wider ships.
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