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"Cabinet approves US$70mn loan for Panama airport expansion"

Tuesday, February 8, 2005

Cabinet approves US$70mn loan for Tocumen airport expansion
BNamericas.com


Panama's presidential cabinet board has approved a US$70mn loan for
expansion works at Tocumen international airport, the presidential webpage
reported.

The Banco Nacional de Paris-Panama (Paribas) loan will be for an 18-month
project to expand the passenger terminal for US$23mn, replace outdated
equipment for US$22mn, repair runways for US$12mn and remodel the cargo
terminal for US$2mn. 

Constructora Panamena de Aeropuertos won the contract in 2004 to design and
build the terminal expansion with a bid of US$21.2mn. Companies Leo A. Daly,
Grupo San Jose and Constructora Quebec y Compania General de Construcciones
make up Constructora. 

Tocumen is just outside Panama City and is the hub for national flag carrier
Copa Airlines, which accounts for 70% of the airport's traffic. 

Aviation authorities were not immediately available for comment for this
article as the country is celebrating Carnival.


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