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Dredging International Submits Low Bid for Gatun Lake Deepening; ACP to Analyze all Bids

On June 1, Dredging International's bid of $39,983,822.82 was the lowest of six bids submitted to the Panama Canal Authority (ACP) for dredging Gatun Lake in the Panama Canal.

The other five bidders were: Jan de Nul: $57,856,939; China Harbor Engineering (CHEC): $67,377,423; Great Lakes Dredge & Dock Company: $72,392,354.34; Boskalis International: $85,500,207.49; and Van Oord: $97,998.256.97.

The ACP will now analyze the technical and financial submissions and award the contract to the company with the lowest-priced bid that also meets the requirements stated in the request for proposal, and verify the company's experience, technical capacity, financial strength and bonding before awarding the contract.

The primary element of contract is to widen and deepen the existing navigation channel by dredging approximately 4.6 million cubic meters in the northernmost reaches of the lake. This contract is one component within the ACP's Fresh Water Dredging and Excavation Project for the Canal Expansion, which includes dredging and/or excavation of about 30 million cubic meters in Gatun Lake and the Gaillard Cut (the narrowest stretch of the Panama Canal).

The ACP will do most of the 30 million cubic meters of dredging and excavation within the project using its own resources, while contracting portions of the project, such as the area included in this contract in Gatun Lake. The ACP has also published another tender for the excavation and dredging of about 3.8 million cubic meters near the Gaillard Cut at the entrance of the new Pacific Locks Access Channel. The ACP expects to receive bids for this contract July 16, 2010.

Gatun Lake spans 163 square miles and is essential to the operation of the canal. At the time of its creation in 1910, during the canal's original construction, Gatun Lake was the largest artificial lake in the world.

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