Koreans trounce Chinese in bidding for Panama Metro tender

A consortium led by South Korea's Hyundai Engineering presented the most competitive bid to a tender for building the third subway line in Panama City, authorities said on Monday, beating two Chinese rivals.

Panama's latest ambitious infrastructure project aims to build the longest metro line in the nation's capital and has the additional complications of having to cross its famous shipping canal. The winning bid was $2.5 billion, Reuters reports.