The Panama Canal Authority said it has awarded a contract to Vinci Construction Grands Projets of France to build a new bridge on the Atlantic side of the canal.
Vinci's bid of about $366 million was the lowest of three submitted.
The authority said the bridge design is inspired by similar ones in Spain, Korea, France, China and Japan. The double-plane, twin pylon, cable-stayed bridge will feature two lanes of traffic in each direction. Its length will be 4.6 kilometers, or over 2.8 miles, and it will stand 75 meters (246 feet) above sea level. The bridge will be built with reinforced concrete.
The bridge will be located three kilometers, or over 1.8 miles, north of Gatun Locks and the new post-Panamax locks on the Atlantic-side province of Colon. Once completed, the authority said it will benefit neighboring communities as it will expedite crossing over the canal.