Experts evaluate bids for Panama Canal lock system

07/6/2009 | Journal of Commerce, The

Three global engineering companies have submitted bids to build a new set of locks on the Panama Canal. A team of experts will analyze the bids and select the winner based 55% on the technical merit of its bid and 45% on the price of the bid. The Panama Canal Authority has not disclosed the value of the contract, but experts estimate that it is worth about $3.2 billion.

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