In response to requests to extend the submission date for bids to build the new set of locks, the Panama Canal Authority (ACP) has pushed the due date to March 3rd, 2009.
The additional time will enable the four consortia competing for the contract to submit more fully developed bids on both the technical and price proposals.
The consortia will now have until March 3rd, 2009 to submit their proposals for what will be the largest and most important project under the $5.25 billion expansion program.
The expansion program involves the creation of a new lane of traffic through the construction of two new sets of locks - one on the Pacific and one on the Atlantic side of the Canal. Each lock will have three chambers and each chamber will have three water recycling basins.
The program also entails the widening and deepening of existing navigational channels in Gatun Lake and the deepening of Culebra Cut.
In order to open a new 6.1 km long access channel to connect the Pacific locks and the Culebra Cut, five dry excavation projects will be executed.
The expansion will double traffic capacity and allow bigger vessels to transit the Panama Canal.
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