After months of rigorous technical review, the Panama Canal Authority (ACP) today determined the "" 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 "" 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 Alemán 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 "."

What is "?"

The "" 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.