According to Zhongjin's understanding, the Panama Canal Authority plans to establish its own ports on the Atlantic and Pacific coasts through public bidding to directly engage in port operations.
Ricaurte Vasquez, the director of the Panama Canal Authority, stated in an interview with foreign media on Monday that these two new ports will be wholly owned by the Authority and may be operated by third parties. He mentioned that the Canal Authority will employ the latest crane technology to compete with the advanced facilities of the Cartagena Port in Colombia. He said, "We are participating in the competition of port operations."
The port plan of the Panama Canal Authority is part of its $85 billion capital expenditure plan over the next seven years, which includes the construction of a liquefied petroleum gas pipeline, new reservoirs, roads, and highways. Both new ports will be connected to the liquefied petroleum gas pipeline.
Panamanian President Jose Raul Mulino stated that the Panamanian government will develop a national maritime logistics strategy to determine a new framework for the operation of Panamanian ports.