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Add to Preferred SourcesThe Central American Bank for Economic Integration (CABEI) granted US$450 million in financing to the Project denominated, “Expansion to Six Lanes of the Las Playas Corridor, Stretch I La Chorrera-Santa Cruz”.
CABEI Executive President, Dr. Dante Mossi, and representatives of the Consortium denominated, “Consorcio FCC Corredor de las Playas I” signed the financing contract at the Regional CABEI Office in Panama.
During the event Dr. Mossi stated that this project will contribute to regional integration by improving and increasing the national paved road network, particularly this highway, enabling the improvement of competitiveness and tourism by reducing transportation time and cost.
This financing has the purpose of expanding 32.65 kilometers of the Las Playas highway corridor. The scope of the works involves the improvement of the cross section to six lanes, extending the width of the shoulder and maintaining the existing lane width in each direction.
The project is expected to benefit more than 500 thousand inhabitants of the Panama Oeste Province, of which 51% of the population is composed of women; it is estimated that the project will create 1,500 temporary construction jobs.
The construction of this road is expected to reduce the average travel time by 50.00% and road maintenance costs by 85.00%.
In addition, the project aims to increase the flow of both national and foreign tourists, obtaining a positive socio-economic impact in the Project’s target area.
Original source: BCIE
Published on 10 December 2018