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Panama Canal Announces 'Best Value' Proposal for New Set of



Panama Canal Announces 'Best Value' Proposal for New Set of Locks Expansion
Contract

CONSORTIUM "GRUPO UNIDOS POR EL CANAL" GARNERS HIGHEST TOTAL POINTS FOR ITS
COMBINED TECHNICAL AND PRICE SCORES

OFFICIAL AWARDING OF CONTRACT TO FOLLOW

ACP CONTINUES FAIR, RIGOROUS, TRANSPARENT CONTRACTING PROCESS

  PR Newswire

  PANAMA CITY, July 8

PANAMA CITY, July 8 /PRNewswire/ --After months of rigorous technical review,
the Panama Canal Authority (ACP) today determined the "best value" proposal
for the new set of locks expansion contract. Consortium Grupo Unidos por el
Canal composed of Sacyr Vallehermoso S.A., Impregilo S.p.A., Jan De Nul n.v.
and Constructora Urbana, S.A. garnered the highest total points for its
combined technical and price scores. Three world-renowned consortia competed
to win the largest and most important contract under the Canal's Expansion
Program.

In a public ceremony, the ACP first presented the scores obtained from the
technical evaluations and opened the price proposals submitted by all three
consortia. Displayed on large video screens for the audience to view, the ACP
opened the sealed price proposals and revealed the technical scores - all done
in the presence of a Public Notary and the ACP's outside auditing firm. The
ACP then calculated a final weighted score - constituting 55 percent for the
technical proposal and 45 percent for the price submission - live and
on-screen.

The points for the price proposal and technical evaluation from each
consortium were then combined and the highest total score became the "best
value" offer.

The base price of US $3,118,880,001.00 submitted by Grupo Unidos por el Canal
does not exceed the ACP's owner's allocated price of US $3,481,000,000.00.

"Today's event marks a critical milestone for the ACP and Panama as we
determine which consortium will design and build the Canal's new locks," said
ACP Administrator/CEO Alberto Aleman Zubieta. "Throughout the review period,
the ACP's Technical Evaluation Board and external auditors worked tirelessly
to ensure an airtight course of action that reflects our staunch commitment to
a fair, rigorous and transparent contracting process. Certainly, each step
brings us closer to our end goal - the historic expansion of the Panama Canal
- and we look forward to awarding the contract in the coming days."

Based on total scores and the criteria laid out by the ACP, Grupo Unidos por
el Canal's proposal submission is the "best value."

What is "Best Value?"

The "best value" proposal was determined based on weighted total scores - 55
percent for the technical proposal and 45 percent for the price submission.
Technical points awarded to each consortium were added and calculated with the
price proposal to determine the total number of points.

The Evaluation Process: Fair, Rigorous and Transparent

After all three consortia submitted proposals March 3, the ACP Contracting
Officer and his team of specialists, which included the ACP Inspector General,
auditors from world-renowned firm Deloitte and the Public Notary, opened the
technical proposals. The proposals were then divided into three areas for
evaluation: 1) execution plan, construction, operations and maintenance; 2)
design of electro mechanicals and controls; 3) design of the hydraulic system,
lock gates and structures.

During the evaluation process, more than 50 local and international experts
provided on-the-ground support for the Technical Evaluation Board, working in
coordination with the official ACP Contracting Officer. Deloitte served as
auditor and reviewed the process to certify that this committee followed the
necessary procedures to evaluate the bids.

In addition, all Technical Evaluation Board members signed confidentiality and
conflict-of-interest agreements.

Price Proposals Only Opened Today

Price proposals submitted by all the consortia, including the owner's
allocated base price, were all sealed and placed in a vault at Panama's
National Bank March 3 and opened for the first time at the public ceremony
today.

What's Ahead?

The Price Verification Board is composed of ACP employees who were not part of
the Technical Evaluation Board. Their primary function is to verify that the
price proposal complies with the established requirements of the ACP. The ACP
Contracting Officer will proceed to verify the contractor's qualifications
pursuant to the established ACP contracting regulations prior to awarding the
contract.

The ACP expects to award the contract in the next few days and will formally
announce the winner on the ACP's Web site at www.pancanal.com.

Final tabulation scores from the Technical Evaluation Board and the
corresponding prices submitted by the consortia are below:

     Consortia                Technical    Base Price      Price     Total
                              Score        Proposal in     Score     Points
                                           U.S. Dollars
    Bechtel, Taisei,
     Mitsubishi
     Corporation              3,789.5   $4,185,983,000.00  2,980.3   6,769.8

      -- Bechtel
        International, Inc.
        - Leader (United
         States)
      -- Taisei Corporation
        - (Japan)
      -- Mitsubishi
        Corporation
        - (Japan)

    C.A.N.A.L.                3,973.5   $5,981,020,333.00  2,585.9   6,559.4
      -- ACS Servicios,
        Comunicaciones
        y Energia, S.L. -
         Leader, Gate
        Manufacturers (Spain)
      -- Acciona
        Infraestructuras,
       S.A. - (Spain)
      -- Fomento de
        Construcciones
        y Contratas, S.A. -
         (Spain)
      -- Hochtief
        Construction
        AG - (Germany)
      -- Constructoras ICA
        S.A.
        de C.V. - (Mexico)

    Grupo Unidos
     por el Canal             4,088.5   $3,118,880,001.00  4,000.0   8,088.5

      -- Sacyr Vallehermoso
        S.A.
        - Leader (Spain)
      -- Impregilo S.p.A. -
        (Italy)
      -- Jan De Nul n.v. -
        (Belgium)
      -- Constructora
        Urbana, S.A.
        - (Panama)



The base price of US $3,118,880,001.00 submitted by Grupo Unidos por el Canal
does not exceed the ACP's owner's allocated price of US $3,481,000,000.00.

About the Panama Canal Authority (ACP)

The ACP is the autonomous agency of the Government of Panama in charge of
managing, operating and maintaining the Panama Canal. The ACP is governed by
its organic law and the regulations approved by its Board of Directors. For
more information, please refer to the ACP's Web site: www.pancanal.com.

This material is distributed by DJE, Inc. on behalf of the Panama Canal
Authority. Additional information is available at the Department of Justice,
Washington, D.C.

SOURCE The Panama Canal Authority

Website: http://www.pancanal.com/
Contact: (Panama) Teresa Arosemena of ACP, +507-272-1873; or (U.S.) Chris
Hayes, +1-202-326-1768, for ACP
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