North Pacific Canal Expansion PAC-1

Last July 17, the Panama Canal Authority awarded to Constructora Urbana, S. A. the first contract for the dry excavation of the access canal to the Pacific Locks. With this project begins the expansion of the Panama Canal.

CUSA submitted the lower price for this bid (B/.41,094,000.00) in a public act that took place on July 6, with the participation of ten worldwide companies.

The contract established the compliance with the following works:

1. Excavation, removal and disposition of 7.4 millions cubic meters of materials, mainly from Cerro Paraiso, at the west side of the actual canal.
2. Cleaning of 146 hectares.
3. Relocation of approximately 3.4 kilometers of the Borinquen road, located at the west side of the Pedro Miguel locks within ACP operation area.

The Pacific access canal will connect the new locks with Gaillard Cut and will have an extension of approximately 7 kilometers and 218 meters wide to the bottom. It is considered that the project involves moving approximately 47 millions of cubic meters of materials during the works of dry excavation.

Once the ACP gives the order to proceed, CUSA has 945 days to complete the work. It is scheduled that the work will be completed by February 2010.