Three international consortiums submitted bids on Tuesday to design and build the new sets of locks for the ongoing $5.2-billion expansion of the Panama Canal. Photo: C.J. Schexnayder/ENR A cargo ship enters the Gatun Locks on the Atlantic side of the Panama Canal. Photo: Panama Canal Authority A computer illustration of the proposed locks for the Panama Canal third lane expansion project. Officials with the Panama Canal Authority – the quasi-governmental organization that oversees the waterway’s administration often known by its Spanish-language acronym, ACP – accepted bids in a ceremony in Panama. The canal authority has previously projected the lock
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.