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Panama awards $1.4 bn bridge project to Chinese group
AFP | Panama City Last Updated at December 5, 2018 12:45 IST
The government of Panama awarded Tuesday a Chinese consortium a $1.4 billion contract to build a bridge over the Panama Canal, a day after a visit byPresident Xi Jinping.
That tour was part of China's efforts to extend its political and economic influence in Latin America.
"Panama is moving ahead in its relations with Chinaand without a doubt this project that begins its construction today is part of that message and trust between the two countries," Panamanian PresidentJuan Carlos Varela said.
The order will allow a consortium called Panama Cuarto Puente, composed of China Communications Construction Company (CCCC) and its unit ChinaHarbour Engineering Company (CHEC), to design and build a bridge over the Panama Canal.
The group outbid companies from Spain, Italy, South Korea and China.
It will be one of the largest construction projects in Panamanian history.
During his visit Xi and Varela signed a score of infrastructure, tourism and development cooperation agreements as Panama became the first Latin American country to partner with Beijing's giant multi-billion dollar "Belt and Road" development initiative.
https://www.business-standard.com/a...-project-to-chinese-group-118120500375_1.html
AFP | Panama City Last Updated at December 5, 2018 12:45 IST
The government of Panama awarded Tuesday a Chinese consortium a $1.4 billion contract to build a bridge over the Panama Canal, a day after a visit byPresident Xi Jinping.
That tour was part of China's efforts to extend its political and economic influence in Latin America.
"Panama is moving ahead in its relations with Chinaand without a doubt this project that begins its construction today is part of that message and trust between the two countries," Panamanian PresidentJuan Carlos Varela said.
The order will allow a consortium called Panama Cuarto Puente, composed of China Communications Construction Company (CCCC) and its unit ChinaHarbour Engineering Company (CHEC), to design and build a bridge over the Panama Canal.
The group outbid companies from Spain, Italy, South Korea and China.
It will be one of the largest construction projects in Panamanian history.
During his visit Xi and Varela signed a score of infrastructure, tourism and development cooperation agreements as Panama became the first Latin American country to partner with Beijing's giant multi-billion dollar "Belt and Road" development initiative.
https://www.business-standard.com/a...-project-to-chinese-group-118120500375_1.html
