Panama: $650 Million for Northern Corridor
The government of Panama will have to pay $650 million to acquire 100% of the shares of the highway known as “Northern Corridor”.
Friday, June 18, 2010
Dulcidio de la Guardia, the country’s finance vice minister, announced that this figure has been agreed between the government and Pycsa, the highway’s concessionaire. However, the transaction has not been closed yet.
The purchase of the highway from the Mexican company Pycsa comes after the $420 million acquisition of the Southern Highway.
The Cabinet Council of Panama has authorized the acquisition of the Northern Corridor Highway from the Mexican company Pycsa, for a total of $650 million.
It has been announced that the purchase of the highway from the Mexican company PYCSA by the Panamanian State will be completed in July and funded by issuing bonds.
An intricate relationship between the companies who own the raises questions about its purchase by the National Company of Motorways of Panama.
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