PANAMA CITY – A consortium headed by Brazilian conglomerate Odebrecht was awarded a contract on Friday to renovate the Panamanian city of Colon.
The Nuevo Colon consortium, made up of Odebrecht and Panama’s Constructora Urbana, or CUSA, obtained the highest score in the bidding process, which was calculated based on the competitors’ technical proposals and economic offers, Panamanian Housing Minister Mario Etchelecu said.
The renovation of the old town of this Caribbean city, located 80 kilometers (50 miles) north of the capital, will involve fully reconstructing its 16 streets and building 5,000 homes and will benefit some 25,000 inhabitants.
The project also will entail the reconstruction of Colon’s drainage and sewage system and the restoration of buildings that are listed as World Heritage Sites, the government portal “Panama Compra” says.
A spokesman for Odebrecht in Panama, for his part, told EFE that the project is aimed at spurring “the resurgence of Colon as the great Caribbean capital.”
Nuevo Colon, whose bid was valued at $537 million and received 498 points for its technical presentation, beat out two other consortiums.
One of them, CCA-MCM, was disqualified after its technical proposal was rejected, while the other, Aspinwall, submitted a $505 million bid but received just 492 points for its technical presentation.
Odebrecht is the leading construction company in Panama, where it has carried out large-scale infrastructure projects over the past decade and created roughly 11,000 jobs, more than 90 percent of which have provided employment to Panamanian workers.