First phase of Howard project to require US$405mn

Panama

A minimum of US$405mn will be invested during the first phase of the Howard airport area development plan, the administrator of the Panamá-Pacífico Special Economic Area Agency, Gilberto Ferrari, told BNamericas.

The project's master plan was approved last week, following the signing of the 40-year public-private partnership contract in June this year.

The project aims to convert the old Howard air base, once owned by the US, into a regional air cargo transport hub, said Ferrari, adding that Panama City's Tocumen international airport already acts as a regional air passenger transport hub.

The first phase of works in the Panamá Pacífico project, to be developed around Howard, will include the construction of roads to improve the connectivity of the airport to the rest of the country; potable water and sewage networks; and wastewater treatment facilities.

The project will also involve the implementing of a mass transport system to cover the area and connect it to Panama City.

The Howard air force base is located to the southwest of the Panama Canal, while Panama City is located to the southeast of the canal. Tocumen and Howard are a 15 minute-flight from each other.

The second phase will be to build the industrial infrastructure related to the initiative, while the third will consist of strengthening the business aspect and the construction of related facilities. The fourth phase of the project will be to unify the first three phases.

The overall project is expected to require a US$705mn investment.

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