Notarc Partners with MSC to Finish Panama Canal Container Port - Bloomberg

2022-06-15 11:31:55 By : Ms. Ann Wang

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A cargo vessel travels through the Panama Canal in Panama City, Panama, on Wednesday, Dec. 4, 2019. 

Notarc Management Group, a Latin America-focused investment firm, is partnering with a unit of Mediterranean Shipping Company to take over construction of the $1.4 billion Panama Canal Container Port.

The facility, which is expected to handle 5 million 20-foot equivalent units, or TEUs, is 40% complete with construction expected to resume in the fourth quarter, according to a statement, without disclosing additional details. A consortium led by China’s Landbridge began work on the project in mid 2017, but the concession was revoked last year over non-compliance.