IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL5.15▲ 0.18% USD/MXN16.92▲ 0.08% USD/CLP914.43▼ 0.06% USD/COP3,039▼ 0.12% USD/PEN3.35▼ 0.21% USD/ARS1,499▼ 0.03% USD/UYU40.20— 0.00% USD/PYG5,996— 0.00% USD/BOB11.43— 0.00% USD/DOP58.57▼ 0.14% USD/CRC450.05— 0.00% USD/GTQ7.62— 0.00% USD/HNL26.81— 0.00% USD/NIO36.62— 0.00% USD/VES782.70▲ 0.48% USD/PAB1.00— 0.00% USD/BZD2.00— 0.00% USD/JMD 157.28 — 0.00% USD/TTD6.71— 0.00% EUR/BRL6.00▲ 0.05% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73% IBOV 171,031.73 ▲ 1.85% IPSA 11,338.38 ▲ 0.89% IPC MEX 65,729.18 ▲ 2.14% MERVAL 2,913,184 ▲ 1.30% COLCAP 2,459.23 ▲ 0.61% BVL PERÚ 58,698.13 ▲ 2.60% USD/BRL 5.16 ▲ 0.01% USD/MXN 17.06 ▼ 0.24% USD/CLP 913.98 ▲ 0.04% USD/COP 3,140 ▲ 0.03% USD/PEN 3.36 ▼ 0.66% USD/ARS 1,493 ▲ 0.10% USD/UYU 40.27 ▲ 1.24% USD/PYG 5,939 ▲ 1.68% USD/BOB 11.64 ▼ 0.76% USD/DOP 58.34 ▲ 1.25% USD/CRC 445.92 ▲ 0.89% USD/GTQ 7.62 ▲ 2.21% USD/HNL 26.79 ▲ 1.57% USD/NIO 36.62 ▲ 0.69% USD/VES 762.44 ▼ 0.13% USD/PAB 1.00 — 0.00% USD/BZD 2.00 — 0.00% USD/JMD 157.28 — 0.00% USD/TTD 6.70 ▲ 0.61% EUR/BRL 5.95 ▲ 1.01% BRENT 88.88 ▼ 0.03% WTI 83.11 ▼ 0.11% IRON ORE 161.91 — — COPPER 6.61 ▲ 0.03% GOLD 4,461 ▲ 1.78% SILVER 65.59 ▲ 1.26% SOY 1,184 ▲ 3.20% CORN 480.50 ▲ 10.02% WHEAT 655.00 ▲ 3.93% COFFEE 317.25 ▼ 5.51% SUGAR 16.43 ▼ 1.79% ORANGE JUICE 138.55 ▼ 0.47% COTTON 85.03 ▲ 2.33% COCOA 5,719 ▲ 3.18% BEEF 223.60 ▼ 3.93% CATTLE 339.10 ▼ 3.16% LITHIUM 75.20 ▲ 1.47% PETR4 41.64 ▼ 0.05% VALE3 72.97 ▲ 0.83% ITUB4 38.60 ▼ 1.03% BBDC4 16.85 ▲ 0.36% ABEV3 14.89 ▼ 0.80% BBAS3 19.37 ▲ 0.47% B3SA3 14.26 ▼ 0.21% WEGE3 47.59 ▲ 0.49% PRIO3 59.14 ▼ 0.19% SUZB3 41.33 ▲ 2.35% RENT3 34.68 ▼ 0.09% AZZA3 15.89 ▼ 2.63% CSAN3 3.22 ▼ 1.83% RAIZ4 0.25 — 0.00% PCAR3 2.75 ▼ 0.36% GMAT3 3.65 ▼ 1.08% PSSA3 48.13 ▼ 0.54% CVCB3 1.33 ▼ 2.92% POSI3 3.36 ▲ 2.44% SLCE3 13.34 ▲ 0.30% NATU3 8.14 ▼ 0.73%
since 2009
Monday, August 24, 2026

Panama Prison Tender Draws Two Bids Above US$177 Million

By · August 24, 2026 · 6 min read

Daily Brief

The morning intel from across Latin America. Free.

By subscribing you agree to our privacy policy. We never share your email.

Panama · GOVERNMENT

Key Facts

  • What happened Panama’s prison tender drew two bids above the US$177.2 million reference price.
  • How big The lower bid is US$181.1 million, about US$3.9 million over the cap.
  • The real story Both bidders exceeded the government’s budgeted ceiling for the prison complex.
  • The catch Only the bid opening is confirmed; no award, signature, or start of works yet.
  • On the map The Central Provinces Prison Complex sits at Divisa, in Santa María district, Herrera.
  • What comes next The ministry will evaluate the bids and may adjust or negotiate before any award.

Panama’s prison system eyes a new complex at Divisa. Both bids on the table exceed the government’s budgeted ceiling.

The Ministry of Government building in Panama City, which is running the Panama prison tender
The National Palace in Panama City’s Old Town, which houses the Ministry of Government, the ministry running the tender.
One-stop reference
Company Intelligence
Every listed company in Latin America — financials, ownership and structure for 1,450+ companies across 26 exchanges, in one place.
Browse the directory →
RT
Ask Rio Times
17 years of Latin America reporting, on demand.
Open the full Ask Rio Times →

Panama prison tender draws two bids above US$177 million, according to La Prensa. The Ministerio de Gobierno, Panama’s interior ministry, opened bids on Thursday 13 August 2026 for the Central Provinces Prison Complex at Divisa.

Two Bids Come In Above Reference Price

In fact, the reference price, set by the ministry, was US$177.2 million. Both bids exceeded that figure, with Consorcio de Infraestructura Social Los Canelos offering US$181.6 million and Constructora Rigaservices, S.A. bidding US$181.1 million.

Therefore, the lower bid is about US$3.9 million above the reference price. The higher bid is about US$4.4 million above it.

Because the balboa is legally fixed to the dollar, the reference price equals US$177.2 million. However, both offers exceed this benchmark, highlighting a potential budget challenge.

The balboa, written B/. , is Panama’s national currency, pegged one to one to the US dollar.

Therefore, B/. 177.2 million and US$177.2 million are the same sum of money.

What the Panama Prison Tender Covers

The Panama prison tender covers the study, design, construction, equipping and maintenance of the new prison complex. This is a single global award, meaning one contractor handles the entire package.

In addition, the site is at Divisa, in the district of Santa María, Herrera province. This is in Panama’s central provinces, as reported by La Prensa.

The contract includes study, design, construction, equipping, and maintenance under a single global award. Meanwhile, this comprehensive approach aims to streamline the project’s execution.

The tender includes study, design, construction, equipping, and maintenance under a single global award. However, this global award means one contractor handles the entire package, not separate lots.

The Bidders and Their Offers

Consorcio de Infraestructura Social Los Canelos submitted a bid of US$181.6 million. Constructora Rigaservices, S.A. offered US$181.1 million.

Both proposals were received on 13 August 2026, according to the record of the opening. The tender process is still at the bid-opening stage, with no award or signature yet.

Both bids were opened on 13 August 2026, as documented. However, no award has been made, and the process remains in evaluation.

The lower bid, US$181.1 million, is about US$3.9 million above the reference price. Meanwhile, the higher bid, US$181.6 million, is about US$4.4 million above it.

Understanding the Reference Price

A reference price is the maximum figure the contracting body has estimated for the work. It serves as the benchmark against which bids are measured.

For this project, the reference price was B/. 177,200,000, which equals US$177.2 million because the balboa is pegged one-to-one to the US dollar.

The balboa, written B/. , is Panama’s national currency, and US dollar notes circulate as legal tender.

A reference price is the maximum budgeted figure for the work. Therefore, bids above it may require renegotiation or new offers.

A reference price is the maximum figure the contracting body has estimated for the work. As a result, bids above it may require renegotiation or new offers.

The Ministerio de Gobierno’s Role

The Ministerio de Gobierno runs Panama’s prison system, so it is the contracting body for this project. It put out the tender on Wednesday 10 June 2026, however.

The tender’s official name is the study, design, construction, equipping and maintenance of the Central Provinces Prison Complex. This is a major infrastructure project for the central provinces.

The ministry oversees the prison system and issued the tender in June 2026. In addition, it will evaluate the bids to decide the next steps.

The Ministerio de Gobierno runs Panama’s prison system, so it is the contracting body for this project. In addition, it put out the tender on Wednesday 10 June 2026.

Separate Context: Court of Accounts Files

Meanwhile, Panama’s court of accounts, the Tribunal de Cuentas, has 284 open files over alleged harm to state assets. These files involve a total of US$222.4 million, as of Friday 31 July 2026.

However, this research does not break down those files by case. La Prensa reports the number of files and total sum, but no list of contracts or companies behind the figure.

These 284 files involve US$222.4 million, but no case breakdown is available. Still, they represent ongoing scrutiny of state assets.

The research does not break the 284 files down case by case. However, La Prensa gives the number and total sum, but no list of contracts or companies.

Another Tender Voided: School Laptops

In a separate matter, Panama’s education ministry, Meduca, declared void its tender for 531,250 laptop computers for state-school pupils. That tender was worth US$268.5 million, and the void was declared by Resolution No. 646 of 1 July 2026.

This was the second time the process failed, as a verification commission had recommended voiding it again. No contract for the pupil laptops was ever awarded.

The void was declared by Resolution No. 646, ending the process. As a result, no laptops were procured under this tender.

Declaring a tender void ends it with no winner, so the buyer must start fresh if still wanting goods. Meanwhile, this was the second time the process failed.

No Award Yet for the Panama Prison Tender

As of now, only the opening of bids has occurred. No award, signature, or start of works is documented.

Still, the Panama prison tender is a significant step for the prison system. The next stage will be evaluation of the bids against the reference price.

Only bid opening is confirmed, with no award or signature. However, the evaluation phase will determine the outcome.

Only the opening of bids on 13 August 2026 is documented. Still, no award, signature, or start of works has occurred.

What Happens Next

The ministry will now evaluate the two bids. Since both are above the reference price, the process may face adjustments or negotiations.

In short, the outcome depends on the ministry’s next steps. For now, the Panama prison tender remains in the bidding phase.

The ministry will assess both offers against the reference price. Since both exceed it, adjustments may be necessary before any award.

The ministry will evaluate both bids against the reference price. Since both exceed it, adjustments may be necessary before any award.

Frequently Asked Questions

What is the reference price for the Panama prison tender?

The reference price is US$177.2 million, set by the Ministerio de Gobierno. Both bids exceeded this figure, with the lowest at US$181.1 million.

Who are the bidders in the Panama prison tender?

The bidders are Consorcio de Infraestructura Social Los Canelos and Constructora Rigaservices, S.A. Their bids were US$181.6 million and US$181.1 million, respectively.

What does the Panama prison tender cover?

It covers the study, design, construction, equipping and maintenance of the Central Provinces Prison Complex. This is a single global award, not split into separate lots.

Has the Panama prison tender been awarded?

No, only the bid opening has occurred on 13 August 2026. No award or contract signature has been documented yet.

Connected Coverage

Sources: La Prensa; Ministerio de Gobierno de Panamá; Tribunal de Cuentas; Ministerio de Educación de Panamá.

This article was drafted with automated assistance and reviewed before publication. How we use AI · Report an error

Read More from The Rio Times

The Rio Times · Power Map
See who really holds power in Latin America
Click to open the Power Map

Rotate for Best Experience

This report is optimized for landscape viewing. Rotate your phone for the full experience.