Panama Ports Company Propels Investment in Balboa and Cristobal

Panama Ports Company, an indirect unit of CK Hutchison, announced a $1.70 billion investment in the infrastructure of Balboa and Cristobal ports. This development is part of a long-standing agreement with the government, addressing recent media concerns about the company's concession rights.

In a strategic move to strengthen its foothold in Panama, the Panama Ports Company, an indirect unit of CK Hutchison, revealed it has injected $1.70 billion into the infrastructure of Balboa and Cristobal ports.

This substantial investment aligns with an agreement made with the Panamanian government two decades ago, underscoring the company's commitment to long-term growth in the region.

The announcement was made following media queries about the company's concession rights, clarifying their stance and reinforcing their ongoing partnership with the local authorities.

(With inputs from agencies.)