Panama - Progress on the Cable Car Project

The Cabinet Council has declared the cable car project, to be developed in the districts of Panama and San Miguelito in Panama City, to be of public interest. This project will be carried out through an administrative concession.

The Panama Metro has been authorized to begin the necessary studies and the process of selecting the concessionaire. A draft of the tender documents and the project contract must be presented to the Cabinet within a maximum period of four months.

Additionally, the Ministry of Economy and Finance has been authorized to make the necessary budget adjustments, including the allocation of funds or additional credits, in order to carry out the studies prior to the bidding process and the selection of the concessionaire.

For more information on this and other investment opportunities and projects, please contact our partners Khatiya Asvat - kasvat@pmalawyers.com and Joaquín De Obarrio - jdeobarrio@pmalawyers.com