The Panama Canal Authority (ACP) has received proposals from three world-class consortia to design and build the new set of Canal locks - the largest contract under the USD5.25bn (GBP3.59bn) Expansion Program.
The proposals have been split, with technical proposals to be assessed before price proposals.
The price proposals have been placed in a sealed container, escorted by ACP Contracting Officer Adriano Espino to the Panama National Bank, and locked into a vault. The price proposals will not be opened until the technical proposals have been evaluated.
The ACP Evaluation Committee, comprised of 15 ACP employees, will assess and award each technical proposal points that will be revealed in a public forum.
Upon completion of the technical evaluation, another public forum will be held to examine the price proposals.
After what they consider to be a fair, rigorous and transparent evaluation process, the ACP will award the contract to the consortium that demonstrates the "best value", a decision based on the technical aspect (55%), and the bid price (45%).
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