This article was written by Sherly Diaz
Mega-projects of more than US$14.000 million. Coast Line, Howard, the Canal are already under construction
The development of real estate, construction, tourism, the banking industry and exports, are some of the elements that have favored the economic growth of the country. Although the official numbers are still not known on the economic increment of the country, some experts consider that the economy of Panama surpassed 10%, the highest in Latin America.
In addition, Panama has a privileged geographic location in its favor, the use of the dollar as currency of national circulation and judicial security are amongst other factors which have currently contributed to the creation of mega-projects, with investments that could surpass US$14.000 million. Among some of these projects is the coast line, work that is being done in Panama Bay, with an investment that surpasses US$189 million.
Another of the projects that is a new source of development is to take place at the old Howard air base, which will cost US$705 million. A third project that has gone ahead since last year is the extension of the Panama Canal, with a value of US$5.250 million. A fourth mega-project would be the refinery in the area of Puerto Armuelles, province of Chiriquí, which is to be constructed at a cost of US$8 million. Nevertheless, its future will be decided next August.
Coastal Project
After the proposal was made in June of 2007 in which the Brazilian company Norberto Odebrecht was the winner, works began on the project named Coast Line. The work includes a refill of 25 hectares of the marine bed Panama Bay, a “jetty” or rock wall to mitigate the actions of the sea, the construction of a route 2.6 kilometers in length with four lanes 3.50 meters wide each, and three interchanges or vehicular bridges. The project also contemplates the construction of two elevated viaducts, cyclist and pedestrian sidewalks, as well as a culvert for the cleaning project of Panama Bay.
Native trees also be planted, of at least five meters in height, existing palms and trees in the area of project development will be transplanted, gardens will also be included, water sources, paths and preferential pedestrian walkways which will be of great impact for the architectural landscaping and scenic beauty of Panama City, declared, Carlos Ho, Director of Special Projects of the Public Works Ministry MOP , in an official press release for the organization.
The notice indicates that according to the company’s plan, the sand refilling of the bay will be simultaneously carried out with the construction of the viaducts in the Israel Route, at 3 de Noviembre Avenue, soon after to be followed with the new road and its organization.
This project will be using the highest level of construction technology, one that is only used in the most advanced countries of the world, with the top standards of architecture and urbanization, maximum security guidelines, quality, respect for the environment and public security. The work has a term of 540 calendar days for its construction, that is to say, approximately until the month of April of 2009.
The head of the MOP portfolio, Benjamin Colamarco, commented that the project among other things, improves vehicular flow, increases road capacity, revitalizes Balboa Avenue, increases the value of personal property in its proximity and above all will improve the quality of life for Panamanians. This mega-project seeks to alleviate the vehicular congestion in Balboa Avenue, since 72,000 vehicles circulate daily through this route.
Old Military Base
An industrial area with logistics operations, of businesses and commercial offices, a residential, tourist and of recreational development are part of the project that will unfold in the old military base of Howard. This project will have a total investment of US$705 million, of which US$405 million will be invested in the first eight years and the remaining US$300 million in next 32 years. The construction of the Special Economic Area, Panama Pacific of Howard will be done as part of a key plan that will be executed by the London & Regional Corp, company that is dedicated to property investments and development.
This key plan consists of seven components like a logistical park in center of the city, a technological campus in the district of Farfán, a forested park in Southern Hills and in the Hills of Kobbe. This project will be built in four stages the first of which will be done in eight years and will build 460.00 square meters of commercial area. During this stage a hotel of 500 rooms will also be constructed, a conventions hotel, businesses and another next to a golf course. It is estimated that these works will add around 1,100 room keys.
In the end, it is hoped to have 20,000 residential units. In the first phase of the project 13,000 jobs will be generated to total 35,000 job openings by the end of the undertaking. Up until now, the promoters of this project have had meetings with several interested investors that seek to participate in this new focal point of development, but preferred not to offer greater details until the contracts are finalized.
Canal Expansion
The project of expansion of the Panama Canal, with a third set of locks, whose investment of over US$5.25 million advances in a satisfactory manner. According to a special publication made by El Faro, the internal bulletin of the Panama Canal Authority ACP , the works of expansion were made in November of 2007, marked by the explosion in Cerro Paraiso.
Members of the board of directors as well as affiliates of the Advisory Council of the ACP have a walk through of the earth moving works of the first contract of the expansion of the inter-oceanic route in the Cerro Paraiso, which is responsibility of Constructora Urbana, Corp. CUSA .
The ACP maintains that one of the objectives of this first contract of the expansion is to reduce to the level of the Cerro Paraiso. At the beginning of the project, last September, the elevation was of 136 meters and at this time it registers 84 meters at sea level. As part of this work around a million cubic meters of materials have been removed, which would be the equivalent of filling around 70 soccer fields with a meter of soil.
Those in charge of the project informed that the first contract of dry excavation registered a 24% advance, which is within the plan. The internal bulletin of the ACP also indicated that an advancement of 50% in the cleaning of the 146 polygonal hectares has been done; whereas the relocation of the Boriquen highway has advanced 40%. The ACP also received from the National Environment Authority ANAM the final decree of approval of the category III environmental impact Study.
Through the expansion it would double the capacity of the Canal thus allowing greater traffic. This effort would create new column of traffic in the maritime routes by means of the construction of a third set of locks, which construction must culminate in 2014. The amplification of the Panama Canal includes the construction of two lock berths, one of them located in the Pacific and another on the Atlantic side, each one with three chambers that include three collection pools for recycling of water.
This also implies the excavation of three new access channels to the new locks, the extension of the existing ship navigation channels, the deepening of the navigation channels and the elevation of the maximum level of operation of Gatún Lake. According to the ACP, the project would be self financed by the increase in tolls and would take approximately from seven to eight years to construct. It is estimated that during construction the work will generate 7,000 direct jobs and 40,000 indirect ones.
Refinery
One of the most ambitious projects for the country is the refinery that is planned for construction in the area of Puerto Armuelles, province of Chiriquí. This refinery with an investment estimated at US$8 million would have capacity to process 350,000 barrels of crude daily.
Not only would it supply the local market but the region, Latin America, the east coast of the United States and the Middle East. In order to materialize this project, the government through The Ministry of Commerce and Industries MICI made a strategic alliance with the companies Qatar Petroleum and Oxy. Qatar is a state company that manages and is responsible of the petroleum and gas industry in the country of the same name and was the first company of the Persian gulf to produce unleaded gas, whereas OXY is the fourth oil company of United States and the largest petroleum producer of Texas.
Nevertheless, the future of the construction of the refinery will be defined in the month of August, when the Foster Wheeler company presents the oil producing companies with the studies of the design of the project. It is expected that the refinery begin operations in 2012. The companies, Oxy and Qatar, contracted the services of the Foster Wheeler engineering and construction company so that they delineate the basic functions of each unit, configuration of the plant, site preparation and infrastructure evaluation, evaluations of manual labor requirements, logistic plans, total cost estimates for the venture, among other things.
It is estimated that during the construction of the refinery more than 5,000 people will be hired, and another 1,000 for operation and manual labor. Alexander Ferrer, MICI professional indicated that “the geographic position of the country is awakening great interest, but main and most attractive thing is without doubt the potential that the project of the refinery represents for the port of Armuelles, with the endorsement of Qatar”.
The representatives of organizations with which the civil servant of the Arab country has met, perceive the refinery as a great project that can transform the economic and social growth of Panama. The architectural landscaping and scenic beauty of Panama City, declared, Carlos Ho, Director of Special Projects of the Public Works Ministry MOP , in an official press release for the organization.
The notice indicates that according to the company’s plan, the sand refilling of the bay will be simultaneously carried out with the construction of the viaducts in the Israel Route, at 3 de Noviembre Avenue, soon after to be followed with the new road and its organization.
This project will be using the highest level of construction technology, one that is only used in the most advanced countries of the world, with the top standards of architecture and urbanization, maximum security guidelines, quality, respect for the environment and public security. The work has a term of 540 calendar days for its construction, that is to say, approximately until the month of April of 2009.
The head of the MOP portfolio, Benjamin Colamarco, commented that the project among other things, improves vehicular flow, increases road capacity, revitalizes Balboa Avenue, increases the value of personal property in its proximity and above all will improve the quality of life for Panamanians. This mega-project seeks to alleviate the vehicular congestion in Balboa Avenue, since 72,000 vehicles circulate daily through this route.
Mega-projects of more than US$14.000 million. Coast Line, Howard, the Canal are already under construction
The development of real estate, construction, tourism, the banking industry and exports, are some of the elements that have favored the economic growth of the country. Although the official numbers are still not known on the economic increment of the country, some experts consider that the economy of Panama surpassed 10%, the highest in Latin America.
In addition, Panama has a privileged geographic location in its favor, the use of the dollar as currency of national circulation and judicial security are amongst other factors which have currently contributed to the creation of mega-projects, with investments that could surpass US$14.000 million. Among some of these projects is the coast line, work that is being done in Panama Bay, with an investment that surpasses US$189 million.
Another of the projects that is a new source of development is to take place at the old Howard air base, which will cost US$705 million. A third project that has gone ahead since last year is the extension of the Panama Canal, with a value of US$5.250 million. A fourth mega-project would be the refinery in the area of Puerto Armuelles, province of Chiriquí, which is to be constructed at a cost of US$8 million. Nevertheless, its future will be decided next August.
Coastal Project
After the proposal was made in June of 2007 in which the Brazilian company Norberto Odebrecht was the winner, works began on the project named Coast Line. The work includes a refill of 25 hectares of the marine bed Panama Bay, a “jetty” or rock wall to mitigate the actions of the sea, the construction of a route 2.6 kilometers in length with four lanes 3.50 meters wide each, and three interchanges or vehicular bridges. The project also contemplates the construction of two elevated viaducts, cyclist and pedestrian sidewalks, as well as a culvert for the cleaning project of Panama Bay.
Native trees also be planted, of at least five meters in height, existing palms and trees in the area of project development will be transplanted, gardens will also be included, water sources, paths and preferential pedestrian walkways which will be of great impact for the architectural landscaping and scenic beauty of Panama City, declared, Carlos Ho, Director of Special Projects of the Public Works Ministry MOP , in an official press release for the organization.
The notice indicates that according to the company’s plan, the sand refilling of the bay will be simultaneously carried out with the construction of the viaducts in the Israel Route, at 3 de Noviembre Avenue, soon after to be followed with the new road and its organization.
This project will be using the highest level of construction technology, one that is only used in the most advanced countries of the world, with the top standards of architecture and urbanization, maximum security guidelines, quality, respect for the environment and public security. The work has a term of 540 calendar days for its construction, that is to say, approximately until the month of April of 2009.
The head of the MOP portfolio, Benjamin Colamarco, commented that the project among other things, improves vehicular flow, increases road capacity, revitalizes Balboa Avenue, increases the value of personal property in its proximity and above all will improve the quality of life for Panamanians. This mega-project seeks to alleviate the vehicular congestion in Balboa Avenue, since 72,000 vehicles circulate daily through this route.
Old Military Base
An industrial area with logistics operations, of businesses and commercial offices, a residential, tourist and of recreational development are part of the project that will unfold in the old military base of Howard. This project will have a total investment of US$705 million, of which US$405 million will be invested in the first eight years and the remaining US$300 million in next 32 years. The construction of the Special Economic Area, Panama Pacific of Howard will be done as part of a key plan that will be executed by the London & Regional Corp, company that is dedicated to property investments and development.
This key plan consists of seven components like a logistical park in center of the city, a technological campus in the district of Farfán, a forested park in Southern Hills and in the Hills of Kobbe. This project will be built in four stages the first of which will be done in eight years and will build 460.00 square meters of commercial area. During this stage a hotel of 500 rooms will also be constructed, a conventions hotel, businesses and another next to a golf course. It is estimated that these works will add around 1,100 room keys.
In the end, it is hoped to have 20,000 residential units. In the first phase of the project 13,000 jobs will be generated to total 35,000 job openings by the end of the undertaking. Up until now, the promoters of this project have had meetings with several interested investors that seek to participate in this new focal point of development, but preferred not to offer greater details until the contracts are finalized.
Canal Expansion
The project of expansion of the Panama Canal, with a third set of locks, whose investment of over US$5.25 million advances in a satisfactory manner. According to a special publication made by El Faro, the internal bulletin of the Panama Canal Authority ACP , the works of expansion were made in November of 2007, marked by the explosion in Cerro Paraiso.
Members of the board of directors as well as affiliates of the Advisory Council of the ACP have a walk through of the earth moving works of the first contract of the expansion of the inter-oceanic route in the Cerro Paraiso, which is responsibility of Constructora Urbana, Corp. CUSA .
The ACP maintains that one of the objectives of this first contract of the expansion is to reduce to the level of the Cerro Paraiso. At the beginning of the project, last September, the elevation was of 136 meters and at this time it registers 84 meters at sea level. As part of this work around a million cubic meters of materials have been removed, which would be the equivalent of filling around 70 soccer fields with a meter of soil.
Those in charge of the project informed that the first contract of dry excavation registered a 24% advance, which is within the plan. The internal bulletin of the ACP also indicated that an advancement of 50% in the cleaning of the 146 polygonal hectares has been done; whereas the relocation of the Boriquen highway has advanced 40%. The ACP also received from the National Environment Authority ANAM the final decree of approval of the category III environmental impact Study.
Through the expansion it would double the capacity of the Canal thus allowing greater traffic. This effort would create new column of traffic in the maritime routes by means of the construction of a third set of locks, which construction must culminate in 2014. The amplification of the Panama Canal includes the construction of two lock berths, one of them located in the Pacific and another on the Atlantic side, each one with three chambers that include three collection pools for recycling of water.
This also implies the excavation of three new access channels to the new locks, the extension of the existing ship navigation channels, the deepening of the navigation channels and the elevation of the maximum level of operation of Gatún Lake. According to the ACP, the project would be self financed by the increase in tolls and would take approximately from seven to eight years to construct. It is estimated that during construction the work will generate 7,000 direct jobs and 40,000 indirect ones.
Refinery
One of the most ambitious projects for the country is the refinery that is planned for construction in the area of Puerto Armuelles, province of Chiriquí. This refinery with an investment estimated at US$8 million would have capacity to process 350,000 barrels of crude daily.
Not only would it supply the local market but the region, Latin America, the east coast of the United States and the Middle East. In order to materialize this project, the government through The Ministry of Commerce and Industries MICI made a strategic alliance with the companies Qatar Petroleum and Oxy. Qatar is a state company that manages and is responsible of the petroleum and gas industry in the country of the same name and was the first company of the Persian gulf to produce unleaded gas, whereas OXY is the fourth oil company of United States and the largest petroleum producer of Texas.
Nevertheless, the future of the construction of the refinery will be defined in the month of August, when the Foster Wheeler company presents the oil producing companies with the studies of the design of the project. It is expected that the refinery begin operations in 2012. The companies, Oxy and Qatar, contracted the services of the Foster Wheeler engineering and construction company so that they delineate the basic functions of each unit, configuration of the plant, site preparation and infrastructure evaluation, evaluations of manual labor requirements, logistic plans, total cost estimates for the venture, among other things.
It is estimated that during the construction of the refinery more than 5,000 people will be hired, and another 1,000 for operation and manual labor. Alexander Ferrer, MICI professional indicated that “the geographic position of the country is awakening great interest, but main and most attractive thing is without doubt the potential that the project of the refinery represents for the port of Armuelles, with the endorsement of Qatar”.
The representatives of organizations with which the civil servant of the Arab country has met, perceive the refinery as a great project that can transform the economic and social growth of Panama. The architectural landscaping and scenic beauty of Panama City, declared, Carlos Ho, Director of Special Projects of the Public Works Ministry MOP , in an official press release for the organization.
The notice indicates that according to the company’s plan, the sand refilling of the bay will be simultaneously carried out with the construction of the viaducts in the Israel Route, at 3 de Noviembre Avenue, soon after to be followed with the new road and its organization.
This project will be using the highest level of construction technology, one that is only used in the most advanced countries of the world, with the top standards of architecture and urbanization, maximum security guidelines, quality, respect for the environment and public security. The work has a term of 540 calendar days for its construction, that is to say, approximately until the month of April of 2009.
The head of the MOP portfolio, Benjamin Colamarco, commented that the project among other things, improves vehicular flow, increases road capacity, revitalizes Balboa Avenue, increases the value of personal property in its proximity and above all will improve the quality of life for Panamanians. This mega-project seeks to alleviate the vehicular congestion in Balboa Avenue, since 72,000 vehicles circulate daily through this route.
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