A bill has been endorsed authorizing Psa Panama International Terminal to build and operate a container terminal in the grounds of the former Rodman Naval Station, at the southern entrance of the Canal.

From a statement issued by presidency of Panama:

The Cabinet has approved a resolution authorizing Minister of the Presidency Alvaro Aleman to submit to the National Assembly a bill approving the contract A-2005-2014 of 28 October 2014, signed between the state and company Psa Panama International Terminal, SA.

This contract the State, which is the absolute and sovereign owner of the land situated at the former Rodman Naval Station on the west edge of the south entrance (Pacific) Panama Canal, adjacent to the Panama Canal, grants in concession to the company, parcels of land and its structures identified as Parcel BU03-09 (polygon 2) Plot BU03-10 (polygon 3) Plot BU03-12 (polygon 7) and Polygon BU03-11 (polygon 4) and its surfaces, measurements and boundaries.

According to the provisions of this contract, the State authorizes the company to develop, build, operate, manage and run a terminal of not less than 1,850,000 TEUs of containers, bulk and ro-ro cargo, using infrastructure facilities as may be necessary, for what will hereby be referred to as, “the container terminal.”