Chinese consortium wins $1.42 billion bid for Canal bridge

The $1.42 billion contract for the design and construction of the fourth bridge over the Canal, awarded to a Chinese consortium was signed by Panama’s Minister of Public Works (MOP on Friday, July 27. The signing  followed a resolution of  the  General Directorate of dismissing the claims of the AstaldiDaelim consortia and Fourth Bridge CSCEC-CREC. The winning consortium consists of China Communications Construction Company and its subsidiary China Harbor Engineering Company.

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The Panama Fourth Bridge Consortium has won the tender for the design and construction of the fourth bridge over the Panama Canal.

The group made up of y China Construction Communication Company and China Harbor Engineering Company presented a proposal of $1.420 billion that helped win the tender without having obtained the highest total score in the sum of the technical evaluation and the economic proposal.

The first place was taken by the Spanish Dragados, S.A. with a total score of 79.84% and an economic proposal of $1.812 billion but the consortium withdrew from the tender after presenting the proposals.

The Company made no comments about the reasons for waiving a contract of more than $1,800.

Two other groups that competed for the contract were disqualified. The Chinese consortium

CSCEC-CREC bridge for not meeting all the technical requirements and the Astaldi-Daelim consortium. The Italian-Korean group made an offer of $1,211 which was considered risky because it was more than 20% lower than the $1.607 billion of the reference price established by the Ministry of Public Works (MOP).

The consortia will have three working days to submit claims now evaluation reports are published in the Panama purchases portal.