PSA Panama Expansion on Track

PSA Panama Expansion on Track
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With the beginning of the quay and dredging works, a major step forward has been taken to transform PSA Panama International Terminal into a 2 million-TEU (20-foot equivalent units) facility.

The expansion, which was approved by Panama’s National Assembly earlier this year, is scheduled to be made operational in the first half of 2017. It involves the dredging and excavation of approximately 4 million cubic meters of material, as well as the construction of an 800-meter quay wall. When fully operational, PSA Panama will be able to handle two mega ships simultaneously.

New container handling equipment to be added includes eight new super-post-Panamax quay cranes as well as 12 rail-mounted gantry yard cranes. All in, the expansion will be achieved at an investment cost of approximately $450 million.

After six months of design and tendering process, the first contracts have been awarded to Jan De Nul and Saipem - construction contractors headquartered in Belgium and Italy respectively.

“We are pleased to partner Jan De Nul and Saipem in the construction of this new expansion phase. Our combined expertise will help ensure the building of a more robust terminal infrastructure at PPIT”, said Alessandro Cassinelli, PSA Panama General Manager

“Panama is a key node in the Latin America and plays an important role in facilitating and growing regional trade and commerce. The expansion of our terminal in Panama’s Pacific coast is testament to PSA’s commitment to this region,” said Enno Koll, Head of Latin America for PSA. “PPIT’s expansion gives shipping lines the peace of mind that there is enough capacity on the Pacific side of Panama for the foreseeable future and enables us to capitalize on the opportunities that the expanded Panama Canal brings.”

This endeavor will generate an estimated 1,000 jobs during the two years of construction, and at least 400 additional long-term jobs for the operation of the expanded terminal.

Located on the western bank of the Panama Canal’s Pacific entrance, the current terminal opened for business in 2010 and currently offers 330 meters of berth length, 450,000 TEU annual capacity, served by three quay cranes and nine yard cranes, and is one of the most productive terminals in Latin America. PSA Panama International Terminal is well-positioned to participate in the growth of this strategic hub and provides an important port of call for shipping lines handling containers as well as Ro-Ro cargo.

PSA International

As one of the leading global port groups, PSA participates in around 40 terminals in 16 countries across Asia, Europe and the Americas with flagship operations in PSA Singapore Terminals and PSA Antwerp. PSA strives to continue growing its port network alongside its shipping line customers and become the preferred partner to port stakeholders across the world. Employing the finest talents in the industry, PSA delivers reliable and best-in-class service to its customers and develops win-win relationships with its partners. As the port operator of choice in the world's gateway hubs, PSA is “The World's Port of Call”. Please visit us at www.globalpsa.com.

Jan De Nul Group

Thanks to its skilled employees and the world’s most modern fleet, Jan De Nul Group is a leading expert in dredging and marine construction activities, as well as in specialized services for the offshore industry of oil, gas and renewable energy. These core marine activities are further enhanced by Jan De Nul Group's in-house civil and environmental capabilities offering clients a complete package solution. Our professional and innovative solutions are trusted across the industry. Whether it concerns the construction of the new locks in the Panama Canal or a new port complex in Western Australia, together with our customers, we build for further economic development.

Saipem

Saipem is a world leader in drilling services, as well as in the engineering, procurement, construction and installation of pipelines and complex projects, onshore and offshore, in the oil & gas market. The company has distinctive competences in operations in harsh environments, remote areas and deep-water. Saipem provides a full range of services with contracts on an "EPC" and / or "EPCI", often 'turn-key', basis, and has distinctive capabilities and unique assets with highest technological content.