The Panama Canal has published the tender files for the concession, development and operation of a large container port in the area of West Corozal, on the east bank of the Pacific entrance. 

The tender files were published after the Panama Canal Board of Directors allowed the Panama Canal Authority (ACP) to proceed with the bidding process, according to a release.

The four pre-qualified companies have until Feb. 3, 2017, to submit their proposals in compliance with the tender requirements to compete for the 20-year concession.

The companies are Netherlands-headquartered APM Terminals B.V. and Terminal Investment Limited S.A., France-based Terminal Link, and PSA International Pte. Ltd from Singapore.

The four entities were selected from seven which submitted proposals in the initial qualification process.

The Panama Canal said the port's development was part of the strategy to diversify business and maintain competitiveness.

The 5.2 million TEU (twenty-foot-equivalent) port will be constructed in two phases. The first will involve an area of 69 hectares with a quay of 1,350 meters and capacity for 60% of the container volumes. The second phase will see construction across an area of 50 hectares with a 750-meter quay.

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