PSA INTERNATIONAL WILL INVEST MORE THAN 400 MILLION USD IN PORT INFRASTRUCTURES IN THE AREA OF RODMAN, PANAMA

Mr. Jorge Barakat Pitty, administrator of the Panama Maritime Authority, stood at the side of Mr. Juan Carlos Varela, Panama’s president, during the ceremony of laying the first stone for the expansion of Port Rodman, which the Port of Singapore Authority (PSA) currently administers.

Mr. Varela emphasized that, during the construction phase, PSA will generate, directly and indirectly, a thousand employment opportunities, yet more than a thousand employment opportunities once its operations start. In addition, PSA Panama committed to train its staff to meet the highest standards in the port sector. This input shall contribute to the development of a highly skilled local labor.

“This is the first world-class port infrastructure located on Panama’s Pacific coast” stressed Mr. Varela.

On the other hand, Mr. Barakat added, “PSA Panama also agreed to support corporate social responsibility programs that have been identified by the Government, in the adjacent areas of the terminal.”

Mr. Enno Koll, PSA CEO for Latin America remarked that the company would invest more than 400 million USD in the expansion of the port infrastructure. Thanks to this expansion, the shipping companies will get the possibility of establishing their hubs in Panama.

The terminal will have eleven (11) gantry cranes with a reach of up to 24 lines and more than 1.1 km of quay. The current capacity of transporting 450 000 containers (TEUs) will increase to 2 million per year.

Currently, PSA has a concession contract with the State for 21 hectares. In addition, it will receive 10 more hectares. The company estimates that the completion of the expansion works will take place in late 2016, along with the commercial opening of the third set of locks of the Panama Canal.