Third Set of Locks Bid Opening Ceremony

VIDEO OF THE EVENT

http://www.pancanal.com/eng/index.html

Panama canal says Sacyr, Impregilo give lowest bid

http://www.reuters.com/article/marketsNews/idUSN0838739520090708

Wed Jul 8, 2009 11:41am EDT

* Panama Canal Authority unveils bids on contract

* Consortium led by Sacyr, Impregilo submit lowest bid

PANAMA CITY, July 8 (Reuters) - A consortium led by Spanish firm Sacyr (SVO.MC) and Impregilo (IPGI.MI) of Italy submitted the lowest bid on a contract for the largest portion of a project to expand the Panama Canal, the Canal Authority said on Wednesday.

The consortium submitted a bid of $3.12 billion, which was below the target price of $3.48 billion also announced on Wednesday by the canal authority, or ACP.

The ACP, which is overseeing the bidding, may take several weeks before announcing a winner. This contract is the largest piece of a $5.25 billion project to expand the interoceanic canal.

Bids were placed months before a presidential election brought into power millionaire supermarket magnate Ricardo Martinelli, bucking a trend of left-wing leadership victories in Latin America.

The other two bidders in the process were a consortium including Spanish giants ACS (ACS.MC), FCC (FCC.MC), Acciona (ANA.MC) and Mexican firm ICA (ICA.MX); and a consortium led by privately owned Bechtel. Bechtel had teamed up with Japan's Taisei Corp (1801.T) and Mitsubishi Corp (8058.T). (Reporting by Elida Moreno; Editing by Tim Dobbyn)