The Panama Canal Authority (ACP) launched the pre-qualification phase for its US$8.5 billion, 10-year modernization plan, which includes two new port terminals and a nationwide energy pipeline. The Corozal terminal on the Pacific Ocean and the Telfers gateway on the Atlantic Ocean are expected to increase Panama’s transshipment capacity by 5 million to 6 million 20-foot equivalent units (TEUs) per year, at an estimated cost of US$2.6 billion, with completion planned by 2029.

Interested parties must demonstrate experience operating at least six terminals with a combined annual throughput of 6 million TEUs and a project developed in the past 10 years with at least 1 million TEUs. ACP began market outreach meetings in October with global operators including APM Terminals, COSCO, DP World, CMA Terminals, and Evergreen.

The plan also includes a 76-kilometer energy pipeline capable of transporting propane, butane, and ethane at up to 2.5 million barrels per day, along with a US$1.6 billion Indio Rio reservoir to secure freshwater for half of Panama’s population and improve canal transit reliability. Final bidding is expected to begin in early 2027.