Odebrecht out of 4th bridge bid
BRAZILIAN construction giant Odebrecht will not be adding to the over $9 billion in Panama government contracts after confirming Monday, Jan 30, that it has withdrawn from the prequalification process of the tender for the design and construction of the fourth bridge over the Panama Canal.
The decision comes after Odebrecht admitted to paying bribes in Panama og at least $59 million between 2009 and 2014.
On Dec. 27, the Cabinet Council adopted the necessary measures to stop Odebrecht from prequalifying for the tender as a measure to combat corruption. The bridge is forecast to cost $1 billion.
Odebrecht sent a letter to Minister of Public Works Ramón Arosemena to formally inform him of its decision to withdraw from the process.
