At 10:00 a.m. local time on June 7, the Panama Colon Container Port Project (PCCP), invested by Shandong Landbridge Group and contracted on an EPC basis by CCCC Dredging, broke ground in Colon, Panama.
The project is located at the Atlantic entrance of the Panama Canal, in the Colon Free Trade Zone, the largest free trade zone in the Western Hemisphere. It is the first overseas project signed under the "CCCC Dredging" brand, adopting a design-build general contracting model, with a contract value of US$316 million and a construction period of 34 months. The main scope of work includes design, channel and basin dredging, reclamation, ground improvement and marine works.
The project is the largest Chinese-invested project in Panama's history and will play a significant role in China-Panama friendship and in promoting economic and trade cooperation between the two countries.