Slim Lowest on Panama Canal Locks Bids

The Panama Canal authority has received eight bids for the second dry excavation contract of the new Pacific locks access channel, with Consorcio Cilsa Minera Maria submitting the lowest. The consortium, a unit of Carlos Slim’s Grupo Carso, pitched $25.5m, $5m below Colombia’s Masering Cromas. The Authority will analyze the proposals and announce the winner in the coming weeks. The contract is part of the canal’s $5.25bn expansion.