The administration of the Panama City airport is looking overseas for investors to fund the $300 million needed to complete the construction of the southern terminal.

During the last administration of Tocumen a tender was scheduled for commercial spaces. to fund part of the works in the terminal. While this process is being completed, the manager of Tocumen SA, Joseph Fidanque III, is looking for alternative funding in the US and other markets.

Prensa.com reports that “… It is estimated that Tocumen could get about $500 million for the tender of the 5 million square feet of commercial space that will be installed in the new extension, which according to the current schedule should be completed in late 2017. While the spaces are being concessioned, management is exploring the mechanisms for funding, partly to cover what has not yet been obtained from commercial spaces, and on the other side to pay for extra expenses. ”

“… Two years after construction began, the current airport administration estimates that the final cost of the project is $800 million. The increase is due to works not included in the original contract. This is because new additions were requested to improve mobility and efficiency of the 75 thousand square meter building. A bridge linking the new structure to the airport as well as a redesign in the baggage system was incorporated.”

Source: Prensa.com