The tourism, real estate and retirement sectors are currently fueling a boom in the economy of Panama. The upshot of this booming economy is there are now more people in need of the core services and infrastructure in Panama City than ever before.
The Government of Panama recently made the first step to alleviating the pressures on the aging city infrastructure by approving the $189.1 Million "Coastline Belt" project which is set to be a massive upgrade to the current Avenida Balboa area along the city waterfront.
Norberto Odebrecht will be in charge of building the project in association with Constructora Urbana, S. A. based on the design that Alianza Pro Ciudad had proposed which was prepared by Architects Boris Aguilar and Alberto Arosemena.
Minister of Public Works (MOP) Benjamin Colamarco announced recently that the Coastline Belt Project and new roads will begin construction on October 15, 2007 and is expected to be completed by April 2009.
The proposed expansion project will begin at the estuary of Matasnillo River in Balboa Avenue and will extend to the Fish Market, including a 7 km expansion. Four lanes will be added to the already existing 6 lanes on Balboa by backfilling 30 hectares of the Bay.
The six existing lanes will be one way roadways heading towards Casco Viejo with the new four lanes one way roadways heading towards the Paitilla district. Two elevated viaducts will also be built for cars with one close to the Fish Market extending to National Avenue and the other starting at Via Israel to the bridge on the Matasnillo River at Balboa Avenue. Also included in the project will be a special lane built for bikes, 2000 free public parking spaces and over 25 hectares of parks.
The Office of the Comptroller General of the Republic has already countersigned the contract between the Ministry of Public Works and the company Norberto Odebrecht, in association with Constructora Urbana, S. A.
