The Panama Canal Authority awarded the contract to design a bridge on the Atlantic side of the Panama Canal near the Gatun Locks to a Chinese-U.S. joint venture. The China Communications Construction Co. and the Louis Berger Group offered a $4.66-million proposal, the lowest bid offered. The structure will be 75 meters above sea level and 5 km long, including the approaches. The other firms proffering bids included TYPSA Principia, URS Holdings, Puente de Colón JV, ARUP and T.Y. Lin International.The bridge is required to maintain a road passage across the isthmus with the construction of the new larger locks
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.