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Govt to disburse first US$100mn for metro project by year-end (Panama)
2010-09-22
Panama's metro ministry will disburse US$100mn in funding to the future operator of Panama City's metro line 1 by year-end, local paper La Prensa reported.

 

The first US$100mn will be paid to the awardee in December, and another US$100mn will be disbursed in January 2011, according to metro minister Roberto Roy.

 

The resources will be used to purchase the trains and equipment necessary for the project.

 

An evaluating commission is currently studying offers to build and operate the system, which were presented on August 30 by two consortiums.

 

The bidders were Linea Uno, comprised of Brazilian firm Odebrecht and Spain's FCC, and Grupo Italiano Metro Panama, led by Italy's Impregilo and including compatriot firms Astaldi and Ghella.

 

While the exact cost of the metro line has yet to be confirmed, estimates put the required investment at some US$1.5bn.


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