Panama Government and Government of Japan signed a USD 2.6 billion agreement to fund the construction of Line 3 of Panama’s Metro. The system will be the first to use Japanese technology in the Americas. The agreement, in addition to funding the Metro construction, will include non-refundable technical cooperation up to USD 350,000 to hire a project manager.
Metro de Panama will be responsible for the preliminary design of Line 3, of the development team in conjunction with the Panama de Metro of the conditions of tender for civil work and will give support in the process of prequalification and bidding and evaluation of proposals. In addition it will monitor all Line 3 Project implementation, including the administration of the monorail system and its integration with the 4th bridge over the Panama Canal.
The company responsible for building the project will be chosen through an international public bidding.
Line 3 will have a length in the first phase of about 26.75 km with 14 stations. The layout of the line starts with a connection with the Line 1 (at Albrook station). Work on the project will be launched in 2017 and it is estimated that will be put inot commercial service at the end of 2021.
“The financing that provides us Japan is a recognition of the strength and credibility of Panama. Our economy is supported by strong fundamentals and today we are demonstrating it,” President Juan Carlos Varela said during the press conference with the Prime Minister of Japan Shinzo Abe.
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