APM Terminals, Terminal Link, PSA International and Terminal Investment Limited have all pre-qualified for the future tender for the construction and operation of a $500m container transhipment port in Corozal, Panama.

The four companies were pre-qualified bidders for the concession for the design, construction, development and operation of the business of a box transhipment port in the area of Corozal, on the Panama Canal Pacific entrance western bank.

"The result of this process demonstrates the potential of the project and especially the confidence of the leading port operators in the world," said Panama Canal Authority (ACP) administrator Jorge Luis Quijano.

The Panama Canal Authority had received until the closing date – 11 March 2016 - the documentation of seven companies interested in the pre-qualification for the port of Corozal. In addition to the port operators that pre-qualified, also participating were Mitsui OSK Lines; Seattle-based Carrix and Ports America Terminal Holdings II.

The ACP, which is drafting the tender documents, expects the first 3.2m teu phase of the port of Corozal be ready in three years.