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Panama awards $1.4 bn bridge project to Chinese group

AFP  |  Panama City 

The government of awarded Tuesday a Chinese consortium a $1.4 billion contract to build a bridge over the Canal, a day after a visit by

That tour was part of China's efforts to extend its political and economic influence in

"is moving ahead in its relations with and without a doubt this project that begins its construction today is part of that message and trust between the two countries," Panamanian said.

The order will allow a consortium called Panama Cuarto Puente, composed of Communications Construction Company (CCCC) and its unit Harbour Engineering Company (CHEC), to design and build a bridge over the

The group outbid companies from Spain, Italy, and China.

It will be one of the largest construction projects in Panamanian history.

During his visit Xi and Varela signed a score of infrastructure, tourism and development cooperation agreements as Panama became the first Latin American country to partner with Beijing's giant multi-billion dollar "Belt and Road" development initiative.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, December 05 2018. 12:45 IST