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Sunday, Jul 25, 2021
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Deputies will review contract renewal at Panama Ports

Deputies will review contract renewal at Panama Ports

Nor does the National Assembly rule out summoning the administrator of the AMP to answer for the renewal of the concession contract to Panama Ports Company.
The deputy of the Democratic Revolutionary Party (PRD), Raúl Pineda confirmed that they will review the renewal of the concession contract to the Panama Ports Company SA for 25 more years to operate the Balboa and Cristóbal ports, to determine if it requires to go through the National Assembly ( AN).

The Panama Maritime Authority ( AMP ) stated that it is a renewal and not a new contract.

"We are going to review the document first to see if the law forces you to come, and if it forces you to come we will make the request ... when the document arrives we will talk about it, that will be tomorrow and tomorrow. Monday," said deputy Raúl Pineda.

Pineda also indicated that the possibility of summoning the administrator of the AMP and the board of this entity to answer for the concession contract to Panama Ports Company is not ruled out.

According to the AMP, the decision to extend the concession contract to Panama Ports was made after analyzing the compliance with the concession contract and after the presentation of the compliance audit reports by the Comptroller General of the Republic of Panama and the General Directorate of Ports of Auxiliary Maritime Industries of the AMP, in addition to a documentary review and analysis of the projections of income to the State.

According to the AMP, revenues to the State are estimated to exceed $800 million during the next 25 years, based on the projections of income from tariffs (movement of containers, dockage) and dividends of the contract.
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