The proposal is to extend by 20 years the concession of the container terminal at Puerto Coco Solo to Colon Container Company, which plans to invest $90 million in its expansion.

From a statement issued by the Presidency of Panama:

A bill, which seeks to grant an extension for 20 years to the contract for the development of Container Terminal in the Port of Coco Solo Norte, province of Colon, was presented today by the Minister of the Presidency, Alvaro Alemán to the National Assembly.

In its submission, the Minister Alemán said in 1996 approval was given to the Contract for the Development, Construction, Operation, Administration and Management of the Container Terminal at the Port of Coco Solo Norte, Colon Province, signed between the State and the company Colón Container Terminal S.A.for a period of twenty (20) years.