Panama's congressional budget committee has greenlighted the transfer of US$13.7mn for the expansion project at Tocumen international airport, which serves capital Panama City.
The funds will go towards the first phase of works which includes construction of the new north terminal, requiring a total investment of US$98mn, the congressional website reported.
Additional works include building access roads, administrative offices and a fuel distribution network for the new terminal.
The project is expected to increase the airport's capacity by 50%.
Colombian consortium AeroTocumen, comprised of cement firm Conconcreto and construction company Grupo Odinsa, began the expansion in October 2009.