October 21, 2010 | 2 CommentsTags: Balboa Ave, bus system, Casco Viejo, culture of panama, flagship project, martinelli, metro bus, metro line, metro system, new jobs, panama canal authority, panama city metro, Panama City Panama, Panama Development, panama information, Panama Real Estate, traffic areas, transit line
Panama City, Panama’s Public Transportation is about to be revamped with a new metro system called Metro Panama. This first transit line is planned for completion in 2014 and will travel 14 kilometers through the high traffic areas of the city. There will be 13 metro stops both above ground and below ground and there will be an aiding metro bus system throughout the city.
Panama’s metro ministry will pay $100 million in funding to the future operator of Panama City’s metro line by the end of 2010, reported by Panama’s La Prensa newspaper.
The first payment of $100 million will be paid to the awardees in December and another $100 million will be disbursed in January 2011, according to metro minister Roberto Roy. This funding will be used to purchase the trains and equipment necessary for the project.
The exact cost of the metro line has not been determined yet but the estimates for the required investment are at $1.5 Billion dollars.
According to La Critica Newpaper in Panama, the project to build a new Metro system in Panama City, Panama, the flagship project of the Martinelli administration, will generate about 3,000 new jobs. Foremen, masons, electricians, engineers, transportation specialists, and electrical engineers will be some of the vacancies that will have to be filled. The secretary of the Metro pointed out that between 30 to 50 foreign professionals, who specialize in handling this type of infrastructure, will be hired. (La Critica)
This project is helping not only the future of Panama’s infrastructure but also providing immediate opportunity in jobs and job training for the people.
This enormous project will drastically change the transportation culture of Panama City. Major traffic disruption throughout the busy areas of Panama City will occur during the construction process but in the hopes for a better future of Panama’s transportation.
Below is the video, with Spanish audio, about the New Metro Subway System.