China's Landbridge Group to acquire Panama's largest port

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China's Landbridge Group to acquire Panama's largest port

According to sources, Landbridge Group, a comprehensive enterprise specialized in infrastructure based in Rizhao, China, has recently acquired the port located on the Marguarita island in Panamá. The company has plans to upgrade and redevelop the port.

Landbridge Group plans to construct a modern and efficient deep-water port with four container berths and an annual capacity of 300 million TEUs. The company has appointed China Communications Construction Company (CCCC) to carry out the port upgrading works.

The port has a strategic location at the Atlantic entrance to the Panama Canal and within the large Colon Free Trade Zone, which is a large entity near dedicated to re-exporting a wide variety of merchandise to Latin America and the Caribbean.

Additionally, the Panama Canal expansion will double the capacity of the channel by:

  • increasing the number of ships and adding a new lane of traffic, and
  • increasing the size of ships by increasing the maximum allowed width and height. 

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