Search filter
Tags
Tags
Back

President Martinelli attends FCC ceremony to open Panama City's central corridor for traffic

03/10/2013

President Martinelli attends FCC ceremony to open Panama City's central corridor for traffic

• FCC Chairman Esther Alcocer Koplowitz highlighted the importance of Panama as the Group's main international market for construction

• The Ministry of Public Works plans to invest 306 million euro in Vía Brasil I and II to improve traffic in Panama City

• The reorganisation of road networks in the capital will benefit more than one million people
 

 

President Martinelli attends FCC ceremony to open Panama City's central corridor for traffic

FCC has opened a section of the Vía Brasil corridor, Panama City's main avenue, for traffic. The inaugural ceremony was led by Ricardo Martinelli, President of Panama, and Esther Alcocer Koplowitz, Chairman of FCC; attendees included Jaime Ford, Panama's Minister of Public Works, Directors FCC Alicia y Carmen Alcocer Koplowitz and Fernando Moreno, head of FCC Construction, among others.

The project comprises two sections, the first of which was inaugurated yesterday. This first section, which cost 167 million euro, included the removal of traffic lights and the construction of an overpass, a tunnel and an aboveground roundabout.

FCC Construction is currently working on section II of the Vía Brasil corridor, which affects the intersections of three of the city's main avenues (in addition to Vía Brasil, Calle 50 and Vía Israel) and is valued at 139 million euro. Both sections are part of the Ministry of Public Works road reorganisation plan.

The objective of this project is to improve the connection between the North and South corridors, where there is intense rush hour traffic, and to diminish congestion, reducing travel times and pollution.

The project will improve pedestrian zones, road safety, landscape integration, and access to the city centre, and is expected to benefit more than one million citizens. Over 140,000 vehicles currently use Vía Brasil daily. More than 700 workers, 90% of them Panamanians, were involved in the construction of this first section of the Vía Brasil.

 

Panama, the leading international market

Esther Alcocer Koplowitz highlighted Panama's importance for FCC, the Citizen Services Group, at her inaugural speech for Vía Brasil I. Panama has become FCC Construction's main international market. The Group expects revenues of more than 700 million euro (around 850 million dollars) this year.

FCC is also currently involved in the construction of Panama Metro Line 1, the first underground in Central America; a Hospital Complex; a new building for the Electoral Board (one of the country's most important legal bodies); as well as the extension of the Panama Canal.

Esther Alcocer also noted that Esther Koplowitz, FCC's core shareholder, has always highlighted Panama as a key market for the group, adding that "We are well aware that Panama is a meeting point for all Latin American countries."