Colombian construction firm Conalvías has opened a new asphalt plant in Panama as part of plans to consolidate operations outside its home country, Bogotá newspaper La República reported.
The installation of the new plant in the Central American country involves "long-term investments that will allow the market to be handled as if [Conalvías] were a local company," the paper quoted company general manager Andrés Jaramillo as saying.
The plant cost Conalvías roughly US$1.5mn and it is scheduled to begin operations toward the end of January.
The asphalt the facility produces will be used to build various major highways, including the western access route to the second bridge over the Panama Canal and the road linking Concepción in the west of the country to the border with Costa Rica.
The Panamanian infrastructure sector is growing, "which makes us think that this is the right time to make investments, bearing in mind that a large volume of projects is on the way," Jaramillo said.