The Panama Canal Authority has issued a Request for Proposals (RFP) to four pre-qualified port operators selected to compete for the concession to design, develop, finance, construct, operate and maintain Corozal Container Terminal, writes Port Strategy.

The four shortlisted companies are the global major terminal operators APM Terminals, PSA International, Terminal Link, and Terminal Investments Limited.

Until February 3, 2017 they are expected to submit the required specifications and economic proposals for the 20-year concession.

The Corozal Container Terminal will be located on the east bank of the Pacific entrance of the Canal. Being part of the Panama Canal Diversification Strategy, the terminal will enhance the services offered by the Expansion to the maritime industry and provide additional port capacity to meet the increased demand due to the expanded Canal, as the need for it, specifically on the Pacific side, was confirmed by several feasibility studies.

The two-phased port project will include the construction of a 2,081-linear-meter dock, a container yard, offices and warehouse facilities within a 120-hectare area owned by the Panama Canal. At Phase 1 the terminal is supposed to have the capacity of 3.2 mln TEU and upon completion of the 2nd Phase extra 2 mln TEU will be added.