The Ministry of Public Works (MOP) and the Panama Cuarto Puente Consortium (CPCP) today signed the addendum to the original contract for this mega work that will impact the lives of more than 1.7 million Panamanians and will expedite the daily movement of more than 70,000 vehicles.
The addendum incorporates modifications to the original contract so that the consortium continues with the design and construction of the project for a net value of $1,372.1 million, after separating its construction from the Third Line of the Panama Metro.
The Minister of Public Works, Rafael Sabonge, explained that it was agreed with the contractor to adjust and modify some components of the original project, including eliminating the gazebo and the restaurant that were included in the original design, as well as adjusting the width of the main deck, interchanges and the type of columns. In addition, the Maintenance Stage has been eliminated every time granting the Project an administrative concession is evaluated.
“During the following months, the team of experts from the consortium will continue the development of the detailed design, the studies and other field work, with a view to beginning the larger construction work in the coming months,” said Minister Sabonge. .
The addendum also incorporates the financing structure of the project presented by the Santander, Mizuho and Banistmo banks for an approximate cost of $716.5 million, endorsed by the Ministry of Economy and Finance, with a payment schedule whose disbursements begin in the year 2026, respecting the maximum amounts of availability of resources established by the MOP. This transaction is what will guarantee the delivery of this important work to the country.
“This is one of the most important projects of the last 20 years in the country, paving the way for the development of the western sector of Panama. That is why we are pleased to reach this agreement with the National Government and we reaffirm our commitment to work together with the authorities so that the Fourth Bridge is a new link in the future of Panama, both from the point of view of infrastructure and the creation of human capital. , generation of jobs and experiences”, said Wang Jun, General Manager of the Panama Cuarto Puente Consortium.
It is estimated that the construction of the Fourth Bridge over the Panama Canal will generate approximately 4,000 direct jobs, in addition to indirect jobs.