The Colombian ISA, through its company ISA Intervial Chile, won the tender carried out by the Ministry of Public Works of Panama for the rehabilitation, improvement and maintenance of the East Pan-American Highway
This is a milestone for the company since it is the first project awarded within the framework of the new Law on Public-Private Partnerships in Panama, with which ISA Intervial.
About the project
The East Pan-American Highway is a 246 km long project, on a single road, that connects the city of Panama with the town of Yaviza in the Province of Darién. The importance of this route is that it is part of the Pan-American Highway, the most important road in Panama, which is more than 750 km long.
“This award marks a decisive moment in the growth and expansion of our Vías business in the region. We are making what is declared in the ISA2030 Strategy to venture into a new geography a reality. With Panamericana Este we will contribute to the economic and social development of the region with infrastructure that boosts the economy, strengthens territories and builds social fabric,” explained Sebastián Castañeda Arbeláez, vice president (e) Business Road Concessions of ISA.
The project will improve logistical communication to the East of the country, strengthen the safety and quality of the road, and promote agricultural and tourism development.
The project has an investment estimated by the MOP of US$283 million, it will generate annual income in the operation and maintenance stage of up to US$62 million.
For its construction, operation, rehabilitation and maintenance, a company will be incorporated in Panama.
Andrés Contreras, general manager of ISA Intervial stressed that “this project in Panama is a reflection of the good performance we have had in the road business and the fulfillment of our growth objectives. The award of this route is in addition to the good news announced by the MOP in Chile about the presentation of the best offer for the Orbital Sur project, one of the most attractive initiatives in the tender portfolio. Connecting people is what moves us and makes us proud. We hope to continue expanding our presence in the different geographies and territories.”