China Wants to Invest in Fourth Set of Locks in Panama
- Business & Finance
The Panama Canal Administrator Jorge L. Quijano held an informative meeting with a delegation headed by Mo Wenhe, Chairman of the China Harbour Engineering Company (CHEC) and Wei Hua Wang, representative of the Chinese-Panamanian Office of Business Development.
Mo Wenhe showed interest in the development of projects in the Panama Canal during the upcoming years.
“We are exploring our participation in all Canal projects, especially in the design, construction and financing of a Fourth Set of Locks,” Wenhe said.
CHEC is a full-service provider of Engineering-Procurement-Construction (EPC), Build-Operate-Transfer (BOT) and Public-Private-Partnership (PPP) for the public and private sectors. Currently, CHEC is present in over 80 countries including Panama and conducts projects worldwide for over US$10 billion. The company will be setting up its regional headquarters in Panama.
The expansion program of the Panama Canal registered an overall progress of 78%, while the new locks project is currently 73% complete.
The project is expected to be complete by December 2015.
Press Release, August 12, 2014