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New port on the pacific.

NEW PORT ON THE PACIFIC. The Panama Canal Authority is negotiating the purchase of 42 acres for the construction of a new port, reports Prensa.com (Dec. 7, 2012). The future terminal will be located in the area of Corazal and will be the third on the Pacific coast. The ACP has 70 acres adjacent to the 42 over which it is holding negotiations with the Administrative Unit of Reverted Properties (UABR), the manager of the land. If the aspirations are realized, the terminal would compete with the port of Balboa, which is operated and managed by the Panama Ports Co. (PPC) - and the port of Singapore, which was built in Rodman. PPC has shown interest in the reverted areas and said the land would be used to expand its current operation.
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Title Annotation:PANAMA
Publication:Caribbean Update
Date:Jan 1, 2013
Words:132
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