Posted on December 21, 2015
With the beginning of the quay and dredging works, a major step forward has been taken to transform PSA Panama International Terminal into a two million-TEU (20-foot equivalent) facility.
The expansion, which was approved by Panamaโs National Assembly earlier this year, is scheduled to be made operational in the first half of 2017. It involves the dredging and excavation of approximately four million cubic meters of material, as well as the construction of an 800-meter quay wall. When fully operational, PSA Panama will be able to handle two mega ships simultaneously.
New container handling equipment to be added includes eight new super-post-Panamax quay cranes as well as 12 rail-mounted gantry yard cranes. In all, the expansion will have an investment of approximately $450 million.
After six months of design and tendering processes, the first contracts have been awarded to Jan De Nul and Saipem โ construction contractors headquartered in Belgium and Italy respectively.
โWe are pleased to partner Jan De Nul and Saipem in the construction of this new expansion phase. Our combined expertise will help ensure the building of a more robust terminal infrastructure at PPITโ, said Alessandro Cassinelli, PSA Panama General Manager
โPanama is a key node in the Latin America region, and plays an important role in facilitating and building regional trade and commerce. The expansion of our terminal on Panamaโs Pacific coast is testament to PSAโs commitment to this region,โ said Enno Koll, Head of Latin America for PSA. โPPITโs expansion gives shipping lines the peace of mind that there is enough capacity on the Pacific side of Panama for the foreseeable future and enables us to capitalize on the opportunities that the expanded Panama Canal brings,โ he said.
This endeavor will generate an estimated 1,000 jobs during the two years of construction, and at least 400 additional long-term jobs for the operation of the expanded terminal.
Located on the western bank of the Panama Canalโs Pacific entrance, the current terminal opened for business in 2010 and currently offers 330 meters of berth length, 450,000 TEU annual capacity, served by three quay cranes and nine yard cranes, and is one of the most productive terminals in Latin America. PSA Panama International Terminal is well-positioned to participate in the growth of this strategic hub.
