Alberto Alemán ZubietaAdministratorPanama Canal AuthorityApril 16, 2009

Alberto Alemán ZubietaAdministratorPanama Canal AuthorityApril 16, 2009

The Panama Canal Expansion Program The Panama Canal Expansion Program

2000 2001 2002 2003 2004 2005 2006

113113

2007

DredgingDredging

LocomotivesLocomotives

Hydraulic SystemHydraulic System

TechnologyTechnology Rail SystemRail System TugboatsTugboats

Accumulated Investment(in millions of US Dollars)Accumulated Investment(in millions of US Dollars)

FY

Capital expenditures on enhancement program have been executed on time and within budget (2000-2008)

2008

1,8771,877

Investment ProgramInvestment Program

2009 proj.113 142 126 207 115 144 233 92 347 358

Expansion Program ComponentsExpansion Program Components

Deepening & widening of the

Atlantic entrance

Deepening & widening of the

Atlantic entrance

Atlantic Post Panamax Locks

Atlantic Post Panamax Locks Increase the Maximum

Operating Level of Gatún Lake

Pacific Post Panamax Locks

Pacific Post Panamax Locks

14 M m314 M m3

26.7 m 26.7 m 27.1 m 27.1 m

Deepening & widening of the Gatun lake

navigational channels

Deepening & widening of the Gatun lake

navigational channels

Post Panamax Locks Pacific Access Channel

46 M m3

3.7 M m3

4.1 M m3

Deepening & widening of the Pacific entrance

Deepening & widening of the Pacific entrance

9.1 M m39.1 M m3

Deepening of the Culebra Cut navigational channels

Deepening of the Culebra Cut navigational channels

Dimension of Locks and

New-Panamax

vessels

Dimension of Locks and

New-Panamax

vessels

294.1 m (965’)294.1 m (965’)

33.5 m (110’)33.5 m (110’)

32.3 m (106’)32.3 m (106’)

304.8 m (1,000’)

304.8 m (1,000’)

12.8 m (42’)LENGTH 366 m (1,200’)

LENGTH 366 m (1,200’)

55 m (180’)55 m (180’)

Beam49 m (160’)

Beam49 m (160’)

427 m (1,400’)

427 m (1,400’)

18.3 m (60’)

12.4 m(39.5’)12.4 m(39.5’)

15.2 m(50’)

15.2 m(50’)

Existing Locks Max Vessel:Existing Locks Max Vessel: 4,400 TEU’s4,400 TEU’s

New Locks Max Vessel:New Locks Max Vessel: 12,600 TEU’s12,600 TEU’s

New LocksNew Locks

Current Locks

Current Locks

PostPanamax

Locks

Operation

PostPanamax

Locks

Operation

With the water saving basinsthe new locks will use 7% less water than the existing locks

With the water saving basinsthe new locks will use 7% less water than the existing locks

WSB 1 WSB 2 WSB 3

Existing LocksExisting LocksNew LocksNew Locks

Wat

er U

tiliz

atio

nW

ater

Uti

lizat

ion

The $2.3 billion financing package will cover a portion of the $5.25 billion total cost of the project and will be allocated as follows: The $2.3 billion financing package will cover a portion of the $5.25 billion total cost of the project and will be allocated as follows:

Secured Financing for Program –

December 9, 2008Secured Financing for Program –

December 9, 2008

FINANCING: European Investment Bank (EIB)  $ 500 MJapan Bank for International Cooperation (JBIC) $ 800 MInter‐American Development Bank (IDB) $ 400 MInternational Finance Corporation (IFC)  $ 300 MCorporación Andina de Fomento (CAF) $ 300 M

Subtotal: $2,300 M

ACP: $ 2,950 M

Total: $ 5,250 M

The negotiated financing structure includes favorable provisions for the ACP including a 20-year amortizing period with a 10-year grace period. The negotiated financing structure includes favorable provisions for the ACP including a 20-year amortizing period with a 10-year grace period.

Contractor Selection Process for

the Third Set of Locks Project

Contractor Selection Process for

the Third Set of Locks Project

Technical and price proposals were received on March 3, 2009 in a meeting open to the general public.

Price proposals are kept sealed and stored in a bank vault.

Technical proposals are being evaluated.

Technical proposal scores will be presented in a second public meeting.

Price proposals will be opened and presented in same second public meeting.

Best value scores will be automatically calculated in same public meeting.

Technical and price proposals were received on March 3, 2009 in a meeting open to the general public.

Price proposals are kept sealed and stored in a bank vault.

Technical proposals are being evaluated.

Technical proposal scores will be presented in a second public meeting.

Price proposals will be opened and presented in same second public meeting.

Best value scores will be automatically calculated in same public meeting.

9

Three of the four prequalified

Consortia presented proposals

Three of the four prequalified

Consortia presented proposals

Consortium Members Disigners Gate fabricators

C.A.N.A.L.

ACS Servicios, Comunicaciones y Energía, S.L. – Líder Sener Ingeniería y Sistemas

ACS Servicios, Comunicaciones y Energía, S.L.

Acciona Infraestructuras, S.A. Haskoning Nederland BV

Fomento de Construcciones y Contratas, S.A. Mott Macdonald Limited

Hochtief Construction AG Hochtief Consult

Constructoras ICA S.A. de C.V.

Bechtel, Taisei, Mitsubishi Corporation

Bechtel Internacional, Inc. – Líder

Bechtel Internacional, Inc. –Líder Wuchang Shipyard Taisei Corporation

Mitsubishi Corporation

Grupo Unidos por el Canal

Sacyr Vallehermoso S.A. – Líder Montgomery Watson Harza (MWH) – Líder

Heerema Fabrication GroupImpregilo S.p.A.

Jan de Nul n.v. IV-Groep

Constructora Urbana, S.A. Tetra Tech

International Ports Connected

through the Panama Canal every Week

International Ports Connected

through the Panama Canal every Week

Source: ACP and ComPairData, 2007Source: ACP and ComPairData, 2007

SavannahSavannahYantianYantian

KwangyangKwangyang

Hong KongHong Kong

PusanPusan

SavannahSavannahKeelungKeelung

WilmingtonWilmingtonPusanPusan

NJ/NYNJ/NY

RotterdamRotterdam

Le HavreLe Havre

HalifaxHalifax

FelixstoweFelixstowe

Long BeachLong BeachLos AngelesLos Angeles

BremerhavenBremerhaven RotterdamRotterdam

KaohsiungKaohsiung

CharlestonCharleston

NagoyaNagoya ThamesportThamesport

OaklandOakland

SeattleSeattle

TokyoTokyo

ColomboColombo

ShanghaiShanghai

YokohamaYokohama

Newport NewsNewport News

HakataHakata Manzanillo (Mx)Manzanillo (Mx)

RotterdamRotterdam

KobeKobe

OsakaOsaka HamburgHamburg

ShimizuShimizu Port SaidPort Said

ZeebruggeZeebrugge

ChabangChabang

TahitiTahiti

AucklandAuckland

DoniamboDoniambo

BrisbaneBrisbaneSydneySydney

MelbourneMelbourne

Tanjung PriokTanjung Priok

SingaporeSingapore

MarseillesMarseilles

La SpeziaLa Spezia

TilburyTilbury

DunkerqueDunkerque

QingdaoQingdao

BuenaventuraBuenaventuraGuayaquilGuayaquil

CallaoCallaoAricaArica

CoquimboCoquimbo

San AntonioSan AntonioSan VicenteSan Vicente

Puerto LimónPuerto Limón

IquiqueIquique

MantaManta

AntofagastaAntofagastaValparaísoValparaíso

..

BalboaBalboa

AntwerpAntwerp

ItajaiItajai

SavannahSavannahBaltimoreBaltimore

New OrleansNew Orleans

ParanaguaParanaguaSantosSantos

Puerto CabelloPuerto Cabello

VeracruzVeracruz ManzanilloManzanilloColon Colon

CartagenaCartagenaLa GuairaLa Guaira

GuantaGuantaMaracaiboMaracaibo

EvergladesEverglades

KingstonKingston

MiamiMiami

Transit the CanalFeeder services that don´t transit the Canal

BostonBoston

Panama: the main

transportation

and logistics

hub of the

Americas

The Panama Canal

Expansion Program

The Panama Canal

Expansion Program

Alberto Alemán ZubietaAdministratorPanama Canal AuthorityApril 16, 2009

Alberto Alemán ZubietaAdministratorPanama Canal AuthorityApril 16, 2009