A construction team led by Spanish contractor Sacyr Vallehermoso SA has won the Panama Canal expansion’s largest contract to date, the design-build job to build a third set of locks on both the waterway’s Atlantic and Pacific openings. Photo: ACP Current Panama Canal facilities are a tight fit for ships. Related Links: Panama Widens Horizons Ten Minutes with CH2M Hill’s Mike Kennedy The team, which includes two U.S. engineers, proposes to construct the locks, a job estimated by owner Panama Canal Authority (ACP) to cost $3.48 billion, for $3.12 billion, ACP said on July 8. � ACP says that the
The market is generally healthy and steadily growing, and margins are up for large specialty contractors. Further, advances in design tools and owner demand for collaboration are giving subcontractors a seat at the table early on in projects.