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Panama welcomes China mega-project after ditching Taiwan

Thursday, October 12, 2017

Panama’s ministry of public works has received four bids, including two from Chinese groups, to design and build a fourth bridge across the Panama Canal, reports The Asset.

The development comes following Panama’s move to end diplomatic recognition of Taiwan earlier this year. Panamanian President Juan Carlos Varela said during a visit from Chinese foreign minister Wang Yi in September that he hoped China will finance more energy and infrastructure projects moving forward.

The other bidders for the bridge project include Spanish-based Dragados and Astaldi of Italy. When the proposals were submitted at a ceremony hosed by Varela, he described the bridge as the second most important megaproject for the country.