The proposals to design and build the new set of locks for the Panama Canal will be submitted on March 3.
The four prequalified consortia, containing more than 30 companies, will submit their proposals to design and build the new set of locks that will constitute the core of the canal's new lane of traffic.
The Panama Canal Authority (ACP) will evaluate the proposals and select the winner for what will be the largest contract under the US$5.25 billion program. The ACP said that the selection process would build off the ACP's existing expansion contracting process and would ensure a fair, rigorous and transparent selection.
On March 3, consortia submissions will be separated into two submissions: price and technical proposals. The price proposals will be moved to an independent and secure environment and will not be reviewed until the technical proposals have been evaluated and points computed.
"All ACP contracts undergo a very rigorous process to ensure fairness and transparency," said ACP Administrator / CEO Alberto Alemán Zubieta. "As the largest and most important contract under the Canal Expansion Program, the ACP has taken additional measures to ensure that the contracting process is airtight, complies with Panamanian law, and is managed by experts and audited by a third party to certify thoroughness and transparency."
