1. What benefits will the construction of this new port in Corozal bring?
    1. The new port will create several benefits:
      1. The Canal Expansion will allow more cargo to transit via the waterway.
      2. The port will enhance the services offered by the Expansion and provide increased port capacity to customers.
      3. The project’s development will generate jobs during the construction phase, as well as during its ongoing operation and management.

 

  1. What does the Corozal Port project consist of?
    1. The two-phased port project will include the construction of a 2,081-linear-meter dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal.

 

  1. Where will the port be built?
    1. The new terminal will be built within a 120-hectare area that is currently owned by the Panama Canal. In order to take advantage of the opportunities that the Expansion will generate, the project will be located in Corozal, which is located on the east bank of the Pacific entrance of the Canal.

 

  1. Why would the Panama Canal build a port when its core business is the transit of ships through the Canal?
    1. Under its legal framework, the Panama Canal has the responsibility of obtaining the best possible advantage of its geographical position through the “operation, administration, management, preservation, maintenance and modernization of the Canal, as well as its activities and related services.” Additionally, the development of the project is an example of the Canal’s continual commitment to develop new products, enhance customer service and further Panama’s position as the logistics and maritime hub of the Americas.

 

  1. How would the Panama Canal manage the waterway and the new port at the same time?
    1. The Panama Canal will issue a call for bids to hire a company with experience in the business that will be responsible for all stages of the project, including: design, construction, development and operation.

 

  1. How will the Panama Canal choose what company will build and operate the port?
    1. The company will be selected through a competitive bidding process, after going through a prequalification process.  The company that offers the highest payment to the ACP will be the winner. The prequalification process took place between late 2015 and early 2016 and it concluded with the selection of four of the leading port operators worldwide:  APM Terminals B.V., Terminal Link, Terminal Investment Limited, and PSA International Pte, Ltd.    On October 7, 2016, the tender documents for the concession, design, construction, development and operation of the port of Corozal West were published. Only the four prequalified companies may submit their financial proposal.

 

  1. Why build a new port?
    1. After several feasibility studies were conducted, it became clear that there was an increased need for additional port capacity, specifically on the Pacific side, to meet the demand that will now transit through the expanded Canal.

 

  1. Isn’t there enough capacity within the existing ports in Panama?
    1. The Panama Canal Expansion will bring an increased movement of cargo throughout the country. This will, in turn, increase demand and require additional services of those ports already in place. Panama must take advantage of that opportunity to grow, just as other countries in the region are doing.

 

  1. Will the port in Corozal be unfair competition for other ports in the region?
    1. In operational terms, the new terminal will operate under the same rules of the other terminals operating in the country, both on the Atlantic as well as on the Pacific side, but under a concession contract awarded by the ACP.

 

  1. Have the environmental impact studies already been done?
    1. Based on the provisions of the Political Constitution, Law No. 19 of 1997 and the Environmental Regulation of the ACP, in August 2016, ERM completed the Environmental Impact Study, Category II for the design, construction, development and operation of a transshipment terminal in Corozal West, Panama Canal. All mitigation measures included in the study as well as the Environmental Management Plan shall be mandatory for the future concessionaire and its contractors.