Panama Canal to Seek Bids for New Ports, Boosting Cargo and Gas Transport
The Panama Canal plans to launch a tender in early 2026 for the construction and operation of two new ports within its zone, part of an $8.5 billion expansion to boost cargo handling, storage, and gas transport capacity.
(Reuters) — The Panama Canal will soon begin consultations with companies about launching a competitive tender in the first quarter of next year offering two new ports for construction and operation within its zone, a source involved in the preparations said on Aug. 14.
The ports are part of a broad expansion plan being organized by the waterway's administration. It aims to increase services related to cargo handling, including trans shipment, storage and gas transportation, and to secure fresh water for operations.
"There is a large demand for facilities and terminals," said Ricaurte Vasquez, head of the waterway, at a conference on Thursday, without elaborating on details.
The Panama Canal Authority did not immediately reply to a request for comment. Its top executives have previously said the waterway plans to invest some $8.5 billion in the next five years to update and expand its infrastructure.
A key project included in the planning, the construction of a large dam to contain the Indio river and create a new water reservoir, will be discussed at Panama's Supreme Court after affected communities filed a lawsuit against it last month.
Another tender to offer a project to build a liquefied petroleum gas pipeline within the canal zone also is in preparation and could be launched next year, the source added.
U.S. President Donald Trump this year threatened to take over the Panama Canal amid criticism of what his government has called the increasing influence of China over the Central American country.
Meanwhile, Panama's President Jose Mulino has moved to end a 25-year concession to Hong Kong-based CK Hutchison for the operation of two key separate ports outside of the canal zone amid criticism of the contract's terms.
CK Hutchison said on Aug. 14 that a $22.8 billion deal with a group led by BlackRock and shipping firm MSC to sell most of its global port business, including the two ports in Panama, had a "reasonable chance" of going through.