Tocumen International  plans  $500 million expansion

State owned Tocumen, SA will invest $ 500 million over the next five years to continue its expansion plan, which includes the construction of the third airstrip.

The company will focus on the construction of the third runway once the construction of the new passenger terminal is completed in the first quarter of 2020. Tocumen will need about 800 hectares to ensure its expansion for the next 15 years.

Thes lands, in addition to allowing the construction of a third runway, would also house future passenger terminals, as the new 116,000 thousand square meters building of the terminal 2 is expected to reach its maximum capacity level after 2025.

Raffoul Arab, manager of Tocumen, SA ., said that once the land is acquired, the construction of the third runway should take about three years.

Studies indicate that aviation in Panama will grow at a rate of 155% over the next 20 years.