10 companies now in the race to manage Metro card system

(newsroompanama.com) The party’s getting bigger with 10 companies now bidding to become the financial manager of Panama’s Metro bus system.

In the first round, four companies put in bids, but the process was cancelled after the Transportation Authority realized that the small print in the qualification prospectus, did not cover all the necessary details.

In a formal ceremony headed by Minister of the Presidency, Jimmy Papadimitriu, the companies gathered prior to preparing proposals to manage a pre-paid rechargeable card system.

The first buses are scheduled to start running on December 18. But, because of the snafu, passengers will have to pay cash when boarding.

The companies hoping to win a five year contract are: Metrorecaudo, Unipago, Sonda, TMSTelemática, Taborda Velez Acia, Transdata Ind. Serv., Consorcio Confía, King Holding, Consorcio Panamá Card, and Cable & Wireless Panamá.

"The financial manager, which will operate independently of the Metro Bus concessionaire, said Papadimitriu, who on the same day, dismissed reports that he was preparing for a run at the Presidency in 2014.

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Original Source: Newsroompanama.com

Date Retrieved: November 17, 2010.