Jump to content

Recommended Posts

Quote

Citibank Will Not Finance Line 2 of Panama Metro

The consortium formed by Odebrecht and the Spanish company FCC will have to find a new bank to grant the funds that Citibank was supposed to provide under the original financing structure.

Thursday, May 26, 2016inSh

 

The exit of Citigroup from the $1,857 million financing structure for the design and construction of Line 2 of the Panama Metro could be due to the recent deterioration in the risk perception of the Brazilian company Odebrecht, whose rating Fitch cut on May 3, citing the "... the increased risk and uncertainty associated with lack of publication of the financial statements of the company at the end of April."

See also: "S&P Downgrades Odebrecht"

Prensa.com reports that "...The Ministry of Economy and Finance said that Citi was one of the participants in financing the contractor with a low percentage, which will be assumed by other banking entities. The Central American Bank for Economic Integration (BCIE) could provide the project with up to $200 million, which would be a greater share than agreed originally by Citi."

"... The Line 2 Consortium said Citigroup's exit from the financing structure will not impact the execution of the project, which is currently 15% complete. Meanwhile, the MEF said that "so far the contractor is fulfilling its contract and the Metro will ensure that the pace of project implementation is kept to schedule'."

Source: Prensa.com

http://www.centralamericadata.com/en/article/main/Citibank_Will_NoT_Finance_Line_2_of_Panama_Metro

Share this post


Link to post
Share on other sites

Bud, I would guess that Citigroup was nudged in the U.S. to get out of any deals involving Odebrecht, the prime contractor, because of the depth of Brazilian corruption problems the firm is mired in.

 

Edited by Keith Woolford

Share this post


Link to post
Share on other sites
Quote

Panama: Tender of Expansion of Metro Line 1 and 2

$660 million will be invested to extend Line 2 up to El Dorado mall and extend by 2.2 kilometers Line 1 to Villa Zaíta, in the town of Las Cumbres.

Monday, August 22, 2016

Among the advances made by Metro de Panama since the intention to extend the lines was announced in January 2016 is the preliminary design of the extension of Line 1 by 2.2 kilometers and "... preliminary analysis of the environmental impact study."

"... In addition to this project, those responsible for it explained that a plot of 4.8 hectares is needed, located in Las Cumbres, owned by the Lions Club of Panama. On that site the plan is to build the northern transport terminus, where cars, buses and taxis will be able to park."

Prensa.com reports that "...with regards to the extension of line 2, which is under construction and will go from San Miguelito to Tocumen, there is a plan to take it up to El Dorado mall, on Ricardo J. Alfaro Avenue. "

http://www.centralamericadata.com/en/article/main/Panama_Tender_of_Expansion_of_Metro_Line_1_and_2

Share this post


Link to post
Share on other sites
Quote

Pope’s visit will speed delivery of Metro 2

Posted on September 13, 2016 in Panama

Roberto-Roy-presidente-Metro-Panama_LPRI
Roberto Roy left
Post Views: 88

THE VISIT by Pope Francis to Panama in 2019 for the Catholic Youth  World  Assembly will accelerate the construction of line 2 of the Metro and the extension to Tocumen International Airport.

The news came from Metro Chairman Roberto Roy on Tuesday September 13 during a presentation to the National Assembly on the agency’s 2017 budget.

But Roy did not offer any clues to the additional price tag involved in the speed up work on the projects.

When the selection of Panama as the site of the event was first announced, enthusiasts talked of visitors arriving by the million.

That was scaled back to around 400,000.

But traffic watchers, pointed out that some 150,000 additional vehicles will appear on Panama’s streets by mid-2019 and the current public transit system would not be able to cope with a sudden major influx of visitors.

Hotels will have less of a problem as apart from the dignateries, the mass of youth visitors are billeted in private homes.

President Juan Carlos Varela and First Lady Lorena Castillo, who attended the last youth event in Krakow, Poland, were enthusiastic proponents of the visit.

More resources
“Metro line 2 has to be fully ready by Dec. 31, 2018,” Roy  told legislators. “That accelerates the project which was originally supposed to be completed by April of 2019. This requires additional resources.”

He did not specify how much accelerating the completion date would cost.

During his presentation Roy also said that authorities are working on integrating a single fare for riders using the Metro and the Metro Bus.

http://www.newsroompanama.com/news/panama/popes-visit-will-speed-delivery-metro-2

Share this post


Link to post
Share on other sites
Quote

Panama: Connection of Metro Line 2 with Tocumen

The Metro will have an elevated station in front of Tocumen International Airport, near the point where terminals 1 and 2 connect, with an estimated cost of $30 million.

Thursday, November 17, 2016

Carmen Carrizo de Pages, vice president of Planning and Strategy at Tocumen International Airport, explained that "...the station will feature elevators and escalators [for people] to take the Metro or to go to T1 or T2". 

Capital.com.pa reports that "...Originally, Metro Line 2 was to have 16 stations, but with the inclusion of Tocumen Airport station this will increase to 17. The stations will have a length of 100 meters long and 20 to 30 meters wide."

Metro authorities at Panama explained that now that the connection has been approved, they will assess the needs for train cars and frequencies, as well as other requirements to be defined so that the station can operate in line with the other 16.

http://www.centralamericadata.com/en/article/main/Panama_Connection_of_Metro_Line_2_with_Tocumen

Share this post


Link to post
Share on other sites
Quote

Corruption scandals hit Metro financing

Posted on February 5, 2017 in Panama

metro-2-620x264.jpg
33% complete with an urgent deadline
Post Views: 79

THE CORRUPTION  scandals leading to the jailing of the president of Odebrecht and many of his executives triggered  the exit of the US Citibank from the financing scheme of  line 2 of the Panama Metro in 2016.

Other banks who had pledged to support the project followed suit  leaving  the financing of the project on shaky ground reports La Prensa.

The financing structure originally proposed by the consortium was shared by Citibank, the

Japanese banks Mizuho and the Bank of TokyoMitsubishi and the German Deutsche Bank.

Economy and Finance Minister Dulcidio De La Guardia told La Prensa  that “it was a syndicated loan led by Citibank and the whole syndicate went out…This happened last year.”

The consortium is negotiating a new structure with two banks. The talks have advanced and, according to De La Guardia, are pending final approval.

The project is 33 percent complete and is a priority for the government to finish on time because  of the expected  flood of visitors to  the World Youth Conference in 2019. Including Pope Francis.

http://www.newsroompanama.com/business/panama-4/corruption-scandals-hit-metro-financing

Share this post


Link to post
Share on other sites

For more information about the Catholic World Youth Forum that is mentioned below, see http://www.chiriqui.life/topic/3043-next-world-youth-conference-to-be-in-panama-in-2019-pope-francis

 

Quote

Papal visit puts pressure on Metro Line 2

Posted on February 7, 2017 in Latin America, Panama

varela-2-e1486505386223-620x264.jpg
Varela lobbied hard for the youth conference and Pope's visit
Post Views: 128

WITH the government under pressure  to have Metro Line 2 up and running in time for the Catholic world youth forum, and the visit of Pope Francis in early 2019, with an expected influx of 400,000  visitors there is growing concern about Odebrecht’s financial deterioration and whether it can raise enough money to finish the project.

The company has been fined some $2 billion by the governments of Brazil, Switzerland and the United States to resolve a criminal case in which it admitted to paying bribes totaling $788 million in a dozen countries, including Panama.

It has also pledged to make restitution to the countries where it paid those bribes including Panama, Per and the Dominican Republic. All three countries are currently investigating those alleged to have received bribes.

The company has sought to sell assets valued at $3.8 billion, but there is a concern that this may not be enough to raise the capital it needs to continue to operate.

This warning was reflected in an analysis released Monday Feb,6  by Bloomberg analysts.

In the report, spokespersons for the construction company said the holding company is not working on the assumption that any unit would have to seek protection from bankruptcy.

Across the region, including Panama, Odebrecht faces the challenge of finding banks that finance projects it is working on.. This includes the expansion of the Metro, which is 33 percent complete.

Last year, the consortium of banks financing the project, led by Citibank, dropped out.

The government has said they expect Odebrecht to present a new financing structure between March and April reports La Prensa.

http://www.newsroompanama.com/business/panama-4/papal-visit-puts-pressure-metro-line-2

Share this post


Link to post
Share on other sites
Quote

Cabinet dilemma with Metro airport extension

metro-620x264.jpg 
Airport bound?

PANAMA’S cabinet must decide whether to approve an $125 million addendum to the Metro line 2,  for the construction of an extension to Tocumen International to the consortium, led by Odebrecht, The other option is to call for a tender report La Prensa.

It will be an interesting debate as names of those in the previous administration who have lined their pockets with Odebrecht bribes continue to surface, and with concerns still being expressed about the award of the current project and the Colon rehabilitation work, to the scandal ridden Brazilian construction company.

Odebrecht withdrew from bidding for the construction of the $1 billion fourth canal bridge.

 

http://www.newsroompanama.com/news/panama/cabinet-dilemma-metro-airport-extension

Share this post


Link to post
Share on other sites
Quote

Panama Metro: Details on the Line 2 Extension Project

An environmental impact study was submitted last August for the expansion of the Metro's Line 2, which will be connected with the new southern terminal at Tocumen International Airport.

Monday, October 30, 2017

Data from the interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, indicates that Metro de Panamá S.A. submitted an Environmental Impact Study (EIA) in August to the Ministry of the Environment.

According to the EIA, the project which will be developed between the towns of Tocumen and Las Mañanitas, in the district and province of Panama, will involve building a 2-kilometer elevated line that starts on the side of the Line 2 station under construction in front of the UTP and will go along the south side of Avenida Domingo Díaz, passing over the cloverleaf interchange located at the exit of the South Corridor at Tocumen, until reaching a first station to be built between the INADEH facilities and the future Higher Technical Institute in Tocumen (ITSE). From there the journey continues to its second station, at the new south terminal of the airport.

The type of trains that will be used will be similar to those used on Line 1. They are conventional trains with steel wheels, composed of a maximum of five cars of an approximate length of 86 meters. With the expansion, Line 2 will have initial passenger transport capacity for 4,000 passengers / hour / direction (AW2 cargo) and 6000 passengers / hour / direction (AW3 cargo), considering a target frequency of 10 minutes. 

According a document issued by the Panama Metro, it is estimated that the investment will be around $125 million.

 

https://www.centralamericadata.com/en/article/main/Panama_Metro_Line_2_Extension_Details

Share this post


Link to post
Share on other sites
On 2/8/2017 at 7:04 PM, Moderator_02 said:

 

Quote

Metro Line 2 partly active for World Youth Day

metro-620x264.jpg
Post Views: 128
 
Metro  Line 2 is 65% completed and will be “partially operational” when hundreds of thousands of pilgrims arrive in the city for World Youth Day, in January 2019 but will not solve the city’s traffic and transport problems.

The Line 2 Consortium -Odebrecht y Fomento Construcciones y Contractors- told La Prensa that at the end of this year they hope to carry out the first static and dynamic train tests that will initially carry 16,000  people during peak hours.

They also committed themselves to having the line partially working during the World  Youth Day with the project fully operational in May of next year.

The $1,857 billion project  will extend   over 21 kilometers, from the San Miguelito Metro Station  to Nuevo Tocumen, in the December 24  corregimiento

Integration
Gustavo Adolfo Bernal, president of the Panamanian Society of Engineers and Architects (SPIA), rated the project positive but considered that by itself it will not help to remedy the traffic problems for vehicles and mobilization of public transport users.

He said that many resources are being invested in the improvement of roads and new transport systems, but there is a lack of connectivity between the works that they advance.

“We have to think big to integrate the investments that are being made, in such a way that there is an effective optimization of the service. It’s not just about building things, ” he said

 

http://www.newsroompanama.com/news/panama/metro-line-2-65-complete-partly-active-popes-visit?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+newsroompanama+%28Newsroom+Panama%29

Share this post


Link to post
Share on other sites
Quote

Panama Metro Extension: 15 Companies Interested

Meco, China Railway Group and Construcciones Civiles Generales are three of the companies that took part in a preview visit to the Line 2 Branch project, which will connect the Higher Technical Institute of the East with the Tocumen airport.

Tuesday, May 22, 2018

Metro de Panamá reported that the companies that participated in the preview visit were the following:

1. FCC Construcción de Centroamérica, Sucursal Panamá
2. ACCIONA Construcción, S.A.
3. OAS Engenharia e construção
4. CAABSA Infraestructura
5. CRCC Infrastructure
6. China Railway Group Limited
7. IBT, LLC
8. MOTA-ENGIL Engenharia e construção (Panama branch)
9. CSCEC LTD / CCA Building Panama SA / CCA Civil Panama SA
10. ODEBRETCH S.A.
11. TYlin International
12. Unirep, S.A.
13. Obrascon Huarte Lain S.A.
14. Construcciones Civiles Generales, S.A. (COCIGE)
15. Constructora Meco

See tender.

From the press release issued by the Panama Metro S.A.:

A total of 15 companies took part in the preview visit for the execution of the Line 2 Branch Project that connects the Higher Technical Institute of the East (ITSE) and Tocumen International Airport (AIT). With this step, Metro de Panamá, S.A. launches the Tender for Best Value with Separate Evaluation for the construction of this phase of the work.

During the trip to the site where this project is going to be developed, representatives from the companies were able to see the local conditions and learn about the construction options that are being contemplated for the development of the project. The visit was guided by the engineer Agustín Arias, Project Director of the Panama Metro, who explained to the participants the purpose of this extension and what its execution includes. 

Read full release (in Spanish).

 

https://www.centralamericadata.com/en/article/main/Panama_Metro_Extension_15_Companies_Interested

Share this post


Link to post
Share on other sites
Quote

1,471 giant beams finished for 23 km Metro line 2

u-beam-620x264.jpeg 
Finishing last beams
Post Views: 124
 
One  of the key processes in the construction of Metro Line 2, the manufacture of 1,471 concrete “U” beams to support the 23 km track     was completed on Thursday, May 31.

The manufacturing process began in February 2016, at the Centenario Industrial Plant, which was also used on Line 1; and expanded to meet the demand for Line 2.

More than 150 workers were involved  in three shifts, 24 hours a day, to ready the beams  for the 23 kilometer line  and 16 stations. Over 19.5 kilometers is already built.

Over  92,673 cubic meters of concrete manufactured in the Centennial Plant,  was used.

Currently, 66 beams, which are in the yards of the plant, are waiting  to be moved. Their transfer and assembly will be completed by the end of July.

Each one is  between 20 and 30 meters long and over 5 meters wide weighing approximately 166 tons. the  transfer and installation of the beams is done at night from 9:00 p.m. to  5:30 a.m., to minimize the impact on traffic in the area.

 

http://www.newsroompanama.com/business/panama-4/1471-giant-beams-finished-for-23-km-metro-line-2

Share this post


Link to post
Share on other sites
Quote

Panama Subway: Line 2 Expansion Tender Delayed

A postponement has been made, to August 30, for the delivery of proposals for design and construction of the branch that will connect the future Higher Technical Institute of the East, with Tocumen international airport.

Friday, June 22, 2018

The initial date for the tender was July 25, according to the tender specification documents. See details of the contest here.

Prensa.com reports that "... The change is due to a series of modifications made to the specifications by the Metro, some requested by the interested companies and others introduced by the contracting entity."

Data from the interactive system "Construction in Central America", compiled by the Business Intelligence Unit at CentralAmericaData, indicates that Metro de Panamá S.A. submitted the Environmental Impact Study (EIA) to the Ministry of the Environment in August.

According to the EIA, in the project that will be developed between the towns of Las Mañanitas and Tocumen, in the district and province of Panama, a 2-kilometer elevated line will be built which starts on the side of the Line 2 station under construction in front of the UTP and will move on the south side of Avenida Domingo Díaz, passing over the clover interchange located at the exit of the South Corridor in Tocumen, until it reaches a first station to be built between the INADEH facilities and the future Higher Technical Institute in Tocumen (ITSE). From there the journey continues to its second station, in the new south terminal of the airport. 

The type of trains that will be used will be similar to those of Line 1. They are of the conventional type with steel wheels, composed of a maximum of five cars of an approximate length of 86 meters. With the expansion, Line 2 will have an initial passenger transport capacity of 4,000 passengers / hour / direction (AW2 cargo) and 6000 passengers / hour / direction (AW3 cargo), considering a target frequency of 10 minutes.
See more details about the project here.

 

https://www.centralamericadata.com/en/article/main/Panama_Subway_Line_2_Expansion_Tender_Delayed

Share this post


Link to post
Share on other sites
Quote

Metro Line 2  airport extension bids delayed

Metro-line-2-May-2018-620x264.jpg 
Metro Line 2, 80 percent complete
Post Views: 84
 
The delivery of proposals for the design and construction of the extension of Metro Line 2 that will connect the future Higher Technical Institute with Tocumen international airport has been postponed to August 30.

The initial date for the tender was July 25, according to the tender specification documents.

CentralAmericaData reports that “… The change is due to a series of modifications made to the specifications by the Metro, some requested by the interested companies and others introduced by the contracting entity.”

The project  will be developed between Las Mañanitas and Tocumen, in the district and province of Panama, a 2-kilometer elevated line will be built which starts on the side of the Line 2 station in front of the UTP and will move on the south side of Avenida Domingo Díaz, passing over the clover interchange at the exit of the South Corridor in Tocumen, until it reaches the first station to be built between the INADEH facilities and the future Higher Technical Institute in Tocumen (ITSE). From there the journey continues to its second station, in the new south terminal of the airport.

 

http://www.newsroompanama.com/business/panama-4/metro-line-2-airport-extension-bids-delayed

Share this post


Link to post
Share on other sites
Quote

Panama: $578 million for the Metro

The government announced that in 2019 it will invest $578 million in the completion of Line 2 and in the construction of the branch that goes from the Technological University to Tocumen.

Friday, August 31, 2018

Although Line 2 must be operational in April 2019, Metro de Panamá announced that in January it will bring into operation five stations and 12 of the 20 wagons that the Line will have, in order to meet demand foreseen during World Youth Day. 

See "Public Works in 2019: $4 billion Investments Projected"

Prensa.com reports that "... of the total budgeted, 63% will be allocated to the 21 kilometers of Line 2."  

See also: "$840 million Train Purchase Approved"

"... Another $26 million will be allocated to starting works on the branch that goes from the station at the Technological University (Estación del Sur), to the International Airport of Tocumen."

 

https://www.centralamericadata.com/en/article/main/Panama_578_million_for_the_Metro

Share this post


Link to post
Share on other sites
Quote

Urbanization Works for $17 million

The Panama Metro is putting out to tender urban planning work at the stations: Cincuentenario, Cerro Viento, San Antonio, Brisas del Golf, 24 de Diciembre and Nuevo Tocumen, all on Line 2.

Wednesday, September 19, 2018

Panama Government Purchase 2018-2-80-0-08-LP-001962:

"The scope of the work consists of the culmination of engineering designs, supply of labor, material, equipment and tools for the execution of urban planning, civil works, and miscellaneous tasks in the vicinity of the established stations.

The Contractor must supply all labor, management, materials, energy, lighting, fuel, water, tools, instruments, equipment, supplies and other means of construction necessary for the execution, completion and operation of all works for urban planning of the surface of the three stations mentioned."

Reference value: $16.850.392.

The deadline for receipt of bids is October 29 2018. 

See tender.

 

https://www.centralamericadata.com/en/article/main/Urbanization_Works_for_17_million

Share this post


Link to post
Share on other sites
Quote

Authorities show progress of line 2 of the Panama Metro

Thu, 09/20/2018 - 15:16

Normal (4)_1.jpg

The Panamanian authorities today show the progress in the construction of line 2 of the Panama City Metro, the first in Central America.

Line 2, with a cost of 1,857 million dollars, began to be built in October 2015 and is expected to operate partially in January, when the capital will host thousands of pilgrims from all over the world for the celebration of World Youth Day (WYD).

On July 25, the Panamanian president, Juan Carlos Varela, announced that construction was already 82 percent complete.

The 21-kilometer stretch of elevated track and 16 stations, will serve more than 400,000 residents of the eastern sector of the Panamanian capital.

With 21 trains of 5 subway cars, it is contemplated that in its initial stage it will transport some 16,000 passengers per hour in each direction and a maximum future provision of 40,000 passengers during rush hour.

The work is in charge of the Line 2 Consortium, made up of the Odebrecht and FCC Construcciones companies, which made the underground Line 1 that has been in operation since April 2014 and which has 23 trains of 3 subway cars.

 

https://www.panamatoday.com/panama/authorities-show-progress-line-2-panama-metro-7906

Share this post


Link to post
Share on other sites
Quote

Three proposals to extend Metro Line 2

Acciona Construccion and the Consortia Linea Aeropuerto and Linea 2 Ramal presented their proposals to design and build the branch that will connect the future Instituto Tecnico Superior del Este with the Tocumen international airport.

Monday, October 1, 2018

The contract contemplates the design engineering services, construction of civil works, auxiliary line installations and stations, and interfaces with the integrated railway systems for the start-up of the branch that connects Line 2 of the Metro with the ITSE and the AIT. The integrated railway systems will be contracted separately by MPSA, as they must be fully compatible with Line 2 systems.

See contest details.

From the press release of Metro de Panamá S.A.:

September 28, 2018. Three companies have presented proposals for the Tender for Best Value with Separate Evaluation, for the implementation of the Line 2 Branch Project, which connects the Instituto Tecnico Superior del Este (ITSE) and the Tocumen International Airport (AIT).

The following consortiums were involved in the public ceremony: Consorcio Linea Aeropuerto (OHL-MOTA-ENGIL), Consorcio Linea 2 Ramal and Acciona Construccion, S.A.


The tenderers presented their technical and economic proposals, which have a score of 510 and 490, respectively. The technical aspects will be analyzed by the Evaluation Commission, which has a period of 30 working days to submit its report, in addition to the possibility of requesting an extension of up to 20 additional working days.

At the same time, the Estimated Price and the economic proposals will be placed in sealed envelopes and kept in a vault of the National Bank of Panama until the evaluation of the technical proposal is completed.

Once the technical evaluation is concluded, the result will be announced at a public ceremony in which the envelopes with the economic proposals and the price estimated by Metro de Panamá S.A. (MPSA) previously kept in the National Bank, will also be opened. In this ceremony, the technical score obtained for each proposal will be disclosed and, as well, the price verification committee will reveal the score of the respective economic proposal.

The winner of the tender will be the tenderer with the highest score (sum of technical and economic score). The winning consortium will have 28 months to execute the extension of Line 2 to the AIT.

The contract includes design engineering services, construction of civil works, auxiliary line installations and stations, and interfaces with the integrated railway systems for the launch of the branch that connects Line 2 of the Metro with the ITSE and the AIT. Integrated rail systems will be contracted separately by MPSA because they must be fully compatible with Line 2 systems.

This new phase of the project is based on the plan of the Master Line of the Panama Metro, which includes a branch connecting Line 2 with the AIT. The forecast is supported by the proximity of this air terminal to the Corredor Sur station (only 2 km) and the positive impact that an intermodal transport service connection represents for the city and airport users.

It should also be noted that the construction of the ITSE, located between the Corredor Sur station and the AIT, has become an added value for the realization of this section. In fact, the school will host 5,000 students. In the same way, other potential Metro users are considered, for whom the service will represent a great social benefit.

It is expected that the launch of this connection will increase the number of passengers on the other Metro lines. Line 2 is currently 86% complete and the project should be completed in the second quarter of 2019.

Details
April 27th, the call for projects was opened.
May 16th, 15 companies participated in the on-site visit.
May 17th, the approval meeting was held.

 

https://www.centralamericadata.com/en/article/main/Three_proposals_to_extend_Metro_Line_2

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

×