News

There has been a flurry of activity on the next phase of the Panama Metro, which will include a connection over the Panama Canal.

A few days ago Panama Metro announced that nine different groups have applied to build the $2.6 billion Line 3 of the metro. The groups represent companies from Spain, China, Italy, South Korea, Portugal, and Brazil, reflecting the worldwide interest in working in Panama.

The first segment of Line 3 will be 26.7 kilometers and include 14 passenger stations, stretching from Albrook to Arraijan. The line will connect Panama City to the west, crossing the Panama Canal on a new bridge that is also in development.

The first phase of Line 3 is expected to handle 20,000 passengers during peak hours, reflecting the demand for the easy connections to Panama Pacifico and the other communities west of the Canal, according to CentralAmericaData.

Meanwhile, the government has started the construction bidding process for the bridge over the Canal, according to a report in Latin Finance. Documents detailing the bidding process should be published in the next few weeks, Panama Finance Minister Dulcidio De La Guardia told Latin Finance.

The bridge will include six lanes of traffic, as well as lanes for the metro. Goldman Sachs is developing financing packages for the bridge, De La Guardia told Latin Finance. “We are still working with Goldman in terms of what is the best combination of financing sources,” he said.

A Japanese group is financing the $2.6 billion metro project, in exchange for an agreement to use trains developed by Japanese companies.