The works of the Panama Canal come to an end


Spain seeks new investment opportunities in the country after the great infrastructure built by Sacyr is about to open

In two years Panama Tenders works valued at 4,000 million dollars

More than three years litigating in the Court of Arbitration for overruns Panama Canal -more than 3,500 million euros have not improved relations between Sacyr and the Panama Canal Authority (ACP). They are not particularly fluid to be two partners that undertake one of the major works that have taken place in Latin America in the last decade. A small sample of this tension was reflected in Monday night in the Spanish mbajada of Panama City, where the Minister of Development, Ana Pastor, won the medal for civil merit that Spain has granted to the Panamanian Minister for Canal, Roberto Roy.

In the formal ceremony, parliaments expressed appreciation to the work done by the Minister to make the great work culminates: “I really tried this great work moves forward,” said Pastor, after recalling the problems that had to be overcome when Sacyr-leader of the group that has carried out the project- stopped the works at the end of 2013. However, the Panamanian delegation was limited: the minister himself and his family and nothing else. He was noticeable absence of Panama Canal Administrator Jorge Quijano, the man who has represented harshly the country’s interests against claims of Grupo Unidos por el Canal (GUPC).

Roy acknowledged that, at least, the litigation has been kept within the strict framework of the contract He resolved in the courts and highlighted the role of Public Works and the Minister herself as the key to the project is pulled forward factor. In fact Pastor has been these days in Panama promoting the ‘mark Spain’, with the purpose -and thus it has communicated to the president, Juan Carlos Varela that Spanish companies can continue opting for infrastructure projects Panama has launched. During the present legislature it intends to invest more than 19,000 million dollars in various projects.


Panama is one of the Latin American countries most active in investing in right now ahead of Brazil or Mexico. Between this year and next will be tendered projects worth 4,000 billion in transport infrastructure and sanitation. Stresses the subway line 3 and the fourth bridge over the Panama Canal by which the Sacyr bid itself with ACS and Korean Hyundai and has a budget of $ 1,000 million. Among sanitation projects highlights a contract of more than 4.5 million holding public company Ineco. According to Public Works, the Spanish companies were awarded last year by 1,700 million projects and remain on the lookout to participate in new initiatives. As Roy himself said: “Spanish companies have always been and Panama and will remain”.

Undoubtedly, the presence of Sacyr is clear: next May 31 will present the works already completed to the ACP. With some delay on initial forecasts and a final cost double the budget, if claimed 3,500 million are recorded. The works will be officially inaugurated on June 26, the same as the general elections in Spain, which will make difficult the presence of any Spanish politician in the appointment. It is expected, though, the presence of King Juan Carlos, as well as the top American representatives, including US President Barack Obama.

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