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Thu June 17 2021

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Panama and Japan seal deal for $2.6bn monorail

22 Apr 16 Panama and Japan have reached a US$2.6bn (£1.8bn) agreement over the funding of a new line for the Panama Metro.

The agreement with the government of Japan will fund the construction of the metro system’s Line 3, which will be the largest project in Panama since the expansion of the Panama Canal. The monorail system will be the first in the Americas to use Japanese technology.

Line 3 of the Panama Metro will be 26.75km long with 14 passenger stations. The project is set to begin in 2017 and come into operation by the end of 2021.

"This great project will benefit hundreds of thousands of Panamanians that have to commute every day to the west side of Panama City, and will allow us to showcase Japanese technology to everyone in the region," said President Juan Carlos Varela.

The agreement, in addition to funding the Metro construction, will include technical cooperation up to US$350,000 to hire a project manager. The project manager will support Metro of Panama in the implementation of the project, overseeing the preliminary design of Line 3 and helping developing the conditions for the tender process. In addition, the project manager will manage the overall execution of Project Line 3, including the integration of the monorail system with the fourth bridge over the Panama Canal.

The construction company will be chosen through an international public bidding process.

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