Cable Viewer

Currently released so far... 12532 / 251,287

### Browse latest releases

2010/11 2010/12 2011/01 2011/02 2011/03 2011/04 2011/05
2010/11/28 2010/11/29 2010/11/30
2010/12/01 2010/12/02 2010/12/03 2010/12/04 2010/12/05 2010/12/06 2010/12/07 2010/12/08 2010/12/09 2010/12/10 2010/12/11 2010/12/12 2010/12/13 2010/12/14 2010/12/15 2010/12/16 2010/12/17 2010/12/18 2010/12/19 2010/12/20 2010/12/21 2010/12/22 2010/12/23 2010/12/24 2010/12/25 2010/12/26 2010/12/27 2010/12/28 2010/12/29 2010/12/30
2011/01/01 2011/01/02 2011/01/04 2011/01/05 2011/01/07 2011/01/09 2011/01/10 2011/01/11 2011/01/12 2011/01/13 2011/01/14 2011/01/15 2011/01/16 2011/01/17 2011/01/18 2011/01/19 2011/01/20 2011/01/21 2011/01/22 2011/01/23 2011/01/24 2011/01/25 2011/01/26 2011/01/27 2011/01/28 2011/01/29 2011/01/30 2011/01/31
2011/02/01 2011/02/02 2011/02/03 2011/02/04 2011/02/05 2011/02/06 2011/02/07 2011/02/08 2011/02/09 2011/02/10 2011/02/11 2011/02/12 2011/02/13 2011/02/14 2011/02/15 2011/02/16 2011/02/17 2011/02/18 2011/02/19 2011/02/20 2011/02/21 2011/02/22 2011/02/23 2011/02/24 2011/02/25 2011/02/26 2011/02/27 2011/02/28
2011/03/01 2011/03/02 2011/03/03 2011/03/04 2011/03/05 2011/03/06 2011/03/07 2011/03/08 2011/03/09 2011/03/10 2011/03/11 2011/03/13 2011/03/14 2011/03/15 2011/03/16 2011/03/17 2011/03/18 2011/03/19 2011/03/20 2011/03/21 2011/03/22 2011/03/23 2011/03/24 2011/03/25 2011/03/26 2011/03/27 2011/03/28 2011/03/29 2011/03/30 2011/03/31
2011/04/01 2011/04/02 2011/04/03 2011/04/04 2011/04/05 2011/04/06 2011/04/07 2011/04/08 2011/04/09 2011/04/10 2011/04/11 2011/04/12 2011/04/13 2011/04/14 2011/04/15 2011/04/16 2011/04/17 2011/04/18 2011/04/19 2011/04/20 2011/04/21 2011/04/22 2011/04/23 2011/04/24 2011/04/25 2011/04/26 2011/04/27 2011/04/28 2011/04/29 2011/04/30
2011/05/01 2011/05/02 2011/05/03 2011/05/04 2011/05/05 2011/05/06 2011/05/07 2011/05/08 2011/05/09 2011/05/10 2011/05/11

### Browse by creation date

66 72 73 75 79 85 86 87 88 89 90 91 92 93 96 97 00 01 02 03 04 05 06 07 08 09 10
1966/12
1972/02 1972/08
1973/04
1975/03
1979/08
1985/03 1985/06
1986/05
1987/06
1988/01
1989/12
1990/01 1990/07 1990/08 1990/10
1991/05
1992/01 1992/06 1992/12
1993/10
1996/11
1997/12
2000/05 2000/06 2000/09 2000/11
2001/02 2001/03 2001/06 2001/07 2001/09 2001/10 2001/11
2002/01 2002/02 2002/03 2002/04 2002/07 2002/08 2002/09 2002/11
2003/01 2003/02 2003/03 2003/04 2003/05 2003/06 2003/07 2003/08 2003/09 2003/10 2003/11 2003/12
2004/01 2004/02 2004/03 2004/04 2004/05 2004/06 2004/07 2004/08 2004/09 2004/10 2004/11 2004/12
2005/01 2005/02 2005/03 2005/04 2005/05 2005/06 2005/07 2005/08 2005/09 2005/10 2005/11 2005/12
2006/01 2006/02 2006/03 2006/04 2006/05 2006/06 2006/07 2006/08 2006/09 2006/10 2006/11 2006/12
2007/01 2007/02 2007/03 2007/04 2007/05 2007/06 2007/07 2007/08 2007/09 2007/10 2007/11 2007/12
2008/01 2008/02 2008/03 2008/04 2008/05 2008/06 2008/07 2008/08 2008/09 2008/10 2008/11 2008/12
2009/01 2009/02 2009/03 2009/04 2009/05 2009/06 2009/07 2009/08 2009/09 2009/10 2009/11 2009/12
2010/01 2010/02

### Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z
Embassy Athens Embassy Asuncion Embassy Astana Embassy Asmara Embassy Ashgabat Embassy Apia Embassy Ankara Embassy Amman Embassy Algiers Embassy Addis Ababa Embassy Accra Embassy Abuja Embassy Abu Dhabi Embassy Abidjan Consulate Auckland Consulate Amsterdam Consulate Adana American Institute Taiwan, Taipei
Embassy Bujumbura Embassy Buenos Aires Embassy Budapest Embassy Bucharest Embassy Brussels Embassy Bridgetown Embassy Bratislava Embassy Brasilia Embassy Bogota Embassy Bishkek Embassy Bern Embassy Berlin Embassy Belmopan Embassy Belgrade Embassy Beirut Embassy Beijing Embassy Banjul Embassy Bangkok Embassy Bandar Seri Begawan Embassy Bamako Embassy Baku Embassy Baghdad Consulate Barcelona
Embassy Copenhagen Embassy Conakry Embassy Colombo Embassy Chisinau Embassy Caracas Embassy Canberra Embassy Cairo Consulate Curacao Consulate Ciudad Juarez Consulate Chennai Consulate Casablanca Consulate Cape Town Consulate Calgary
Embassy Dushanbe Embassy Dublin Embassy Doha Embassy Djibouti Embassy Dili Embassy Dhaka Embassy Dar Es Salaam Embassy Damascus Embassy Dakar Consulate Dubai
Embassy Freetown Consulate Fukuoka
Embassy Guatemala Embassy Gaborone Consulate Guayaquil Consulate Guadalajara
Embassy Helsinki Embassy Harare Embassy Hanoi Consulate Ho Chi Minh City Consulate Hermosillo Consulate Hamilton Consulate Hamburg Consulate Halifax
Iran RPO Dubai Embassy Islamabad Consulate Istanbul
Embassy Jakarta Consulate Jerusalem Consulate Jeddah
Embassy Kyiv Embassy Kuwait Embassy Kuala Lumpur Embassy Kinshasa Embassy Kingston Embassy Kigali Embassy Khartoum Embassy Kathmandu Embassy Kampala Embassy Kabul Consulate Kolkata
Embassy Luxembourg Embassy Luanda Embassy London Embassy Ljubljana Embassy Lisbon Embassy Lima Embassy Lilongwe Embassy La Paz Consulate Lahore Consulate Lagos
Mission USOSCE Mission USNATO Mission UNESCO Embassy Muscat Embassy Moscow Embassy Montevideo Embassy Monrovia Embassy Minsk Embassy Mexico Embassy Mbabane Embassy Maputo Embassy Manila Embassy Manama Embassy Managua Embassy Malabo Embassy Madrid Consulate Munich Consulate Mumbai Consulate Montreal Consulate Monterrey Consulate Milan Consulate Melbourne
Embassy Nicosia Embassy Niamey Embassy New Delhi Embassy Ndjamena Embassy Nassau Embassy Nairobi Consulate Naples Consulate Naha
Embassy Ouagadougou Embassy Ottawa Embassy Oslo
Embassy Pristina Embassy Pretoria Embassy Prague Embassy Port Of Spain Embassy Port Louis Embassy Port Au Prince Embassy Phnom Penh Embassy Paris Embassy Paramaribo Embassy Panama Consulate Peshawar
Embassy Quito Consulate Quebec
REO Basrah Embassy Rome Embassy Riyadh Embassy Riga Embassy Reykjavik Embassy Rangoon Embassy Rabat Consulate Rio De Janeiro Consulate Recife
Secretary of State Embassy Suva Embassy Stockholm Embassy Sofia Embassy Skopje Embassy Singapore Embassy Seoul Embassy Sarajevo Embassy Santo Domingo Embassy Santiago Embassy Sanaa Embassy San Salvador Embassy San Jose Consulate Strasbourg Consulate St Petersburg Consulate Shenyang Consulate Shanghai Consulate Sapporo Consulate Sao Paulo
Embassy Tunis Embassy Tripoli Embassy Tokyo Embassy The Hague Embassy Tel Aviv Embassy Tehran Embassy Tegucigalpa Embassy Tbilisi Embassy Tashkent Embassy Tallinn Consulate Toronto Consulate Tijuana
USUN New York USEU Brussels US Office Almaty US Mission Geneva US Interests Section Havana US Delegation, Secretary UNVIE Embassy Ulaanbaatar
Embassy Vilnius Embassy Vienna Embassy Vatican Embassy Valletta Consulate Vladivostok Consulate Vancouver
Embassy Windhoek Embassy Wellington Embassy Warsaw
Embassy Yerevan Embassy Yaounde
Embassy Zagreb

### Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
ASEC AF AR ARF AG AORC APER AS AU AJ AM ABLD APCS AID APECO AMGT AFFAIRS AMED AFIN ADANA AEMR AE ADCO AA AECL AADP ACAO ANET AY APEC AORG ASEAN ABUD AINF AFSI AFSN AGR AROC AO AODE AL ACABQ AGMT AORL AX AMEX ATRN ADM AFGHANISTAN AZ ASUP AND ARM AQ ATFN AMBASSADOR ACBAQ ADPM AC ASIG ASCH AGAO ACOA AUC ASEX AIT AMCHAMS AER AVERY AGRICULTURE AMG AFU AN ALOW ASECKFRDCVISKIRFPHUMSMIGEG ACS
BA BR BU BK BEXP BO BL BM BC BT BRUSSELS BX BIDEN BTIO BG BE BD BY BBSR BB BP BN BILAT BF BH BTIU BWC BMGT
CO CH CA CS CE CASC CU CI CDG CVIS CG CWC CIDA CM CICTE CMGT COUNTER CPAS COUNTRY CJAN CBW CBSA CEUDA CD CAC CODEL CW CBE CHR CT CDC CFED COM CIS CR CKGR CVR CIA CLINTON CY COUNTERTERRORISM CITEL CLEARANCE COE CN CARICOM CB CONDOLEEZZA CACS CSW CIC CITT CONS COPUOS CL CARSON CACM CDB CROS CLMT CTR CJUS CF CTM CAN CAPC CV CBC CNARC
DR DA DK DJ DHS DPRK DEPT DEA DISENGAGEMENT DE DOMESTIC DOD DOE DS DTRA DEFENSE DO DAO DCM DEAX
ETTC EFIN ECON EAIR EG EINV ETRD ENRG EC EFIS EAGR EUN EAID ELAB ER EPET EMIN EU ECPS EN EWWT ELN EIND ELTN EINT ECA EPA ENGR ETRC EXTERNAL ELECTIONS EZ ECIN EI ENVI ETRO ETRDEINVECINPGOVCS ETRN ET EK ES EINVEFIN ERD EUR ETC ENVR EAP ENIV ECONOMY EINN EFTA ECONOMIC EXBS ECUN ENGY ECONOMICS EIAR EINDETRD EREL EUC ESENV ECONEFIN EURN EDU ETRDEINVTINTCS ECIP ENERG EFIM EAIDS EAIG ECONCS EEPET ESA EXIM ENNP ECINECONCS EFINECONCS EUREM ETRDECONWTOCS EUNCH EINVETC EINVECONSENVCSJA EUMEM ETRA ERNG
FI FR FTA FARC FJ FTAA FAC FOREIGN FBI FAO FAS FM FINR FREEDOM FOR FINANCE FOI FMLN FDA FO FISO
GV GG GM GH GOV GOI GL GT GY GAERC GA GF GR GE GZ GAZA GANGS GCC GTIP GERARD GLOBAL GTMO
HR HA HO HU HUMAN HK HILLARY HI HURI HSTC HYMPSK HUMOR HEBRON
IR IC IN IAEA IT IBRD IS ITU ILO IZ ID ICRC IPR ISRAELI IIP ICAO IMO INMARSAT IWC INTERNAL IV INDO ITPHUM ITPGOV ITALIAN IO IBET INR ICJ ICTY IRS IA INTERPOL IRAQI IEA INRB IL IMF ITRA ISLAMISTS ITALY IQ IAHRC IZPREL IRAJ IDP ILC IRC IACI IDA ITF IF ISRAEL ICTR IGAD INRA INRO IEFIN INTELSAT
JA JUS JO JM JP JOSEPH JAMES JOHNNIE JOHN
KCRM KJUS KWMN KISL KIRF KDEM KTFN KTIP KFRD KPRV KCOR KNNP KAWC KUNR KGHG KV KIPR KFLU KSTH KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KSUM KTIA KTDB KPAO KMPI KZ KMIG KBCT KSCA KN KPKO KPAL KIDE KOMC KS KOLY KU KWBG KPAONZ KNUC KHLS KMDR KE KNNPMNUC KSTC KWAC KERG KACT KSCI KHDP KDRG KVPR KICC KPRP KBIO KFLO KCFE KCIP KTLA KTEX KSEP KHIV KCSY KTRD KID KGIC KRVC KNAR KSPR KMRS KNPP KJUST KMCA KPWR KG KTER KRCM KIRC KR KSEO KNEI KTBT KCFC KSAF KSAC KCHG KAWK KGCC KPLS KREL KMFO KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KFTFN KVRP KBTR KCOM KO KLIG KDEMAF KRAD KOCI KAID KNSD KGIT KFSC KWMM KPAI KICA KHUM KREC KRIM KSEC KCMR KPIN KESS KDEV KCGC KOM KRGY KPOA KBTS KHSA KMOC KCRS KVIR KX KWWMN KPAK KWNM KWMNCS KRFD KDDG KIFR KFIN KOMS KCRCM KNUP
LE LY LI LG LH LTTE LU LO LAB LOG LA LT LABOR
MARR MU MOPS MNUC MO MASS MCAP MX MY MZ MUCN MTCRE MIL ML MEDIA MPOS MA MP MERCOSUR MG MR MI MD MK MOPPS MASC MTS MLS MILI MAR MEPN MAPP MTCR MEPI MEETINGS MW MAS MRCRE MT MCC MIK MAPS MARAD MDC MQADHAFI MTRE MV MEPP MILITARY MASSMNUC MC
NZ NL NATO NO NI NU NS NASA NAFTA NP NDP NIPP NPT NG NEW NE NSF NZUS NR NH NA NSG NC NRR NATIONAL NT NGO NSC NPA NV NK NAR NORAD NSSP NATOPREL NW NPG NSFO
OVIP OPDC OTRA OREP OAS OPRC OPIC OECD OPCW OFDP OIIP OEXC ODIP OSCE OBSP OSCI OIE OTR OMIG OSAC OFFICIALS ON OFDA OES OVP OCII OHUM OPAD OIC OCS
PREL PGOV PHUM PINR PTER PARM PREF PK PINS PMIL PA PE PHSA PM PROP PALESTINIAN PBTS PARMS POL PO PROG PL PAK POLITICS PBIO PTBS POLICY PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PBT PTERE PRGOV PORG PP PS PGOF PKFK PSOE PEPR PPA PINT PMAR PRELP PREFA PINF PNG PFOR PUNE PDOV PGOVLO PAO PHUMBA PSEPC PCUL PNAT PREO PLN PNR POLINT PRL PGOC POGOV PU PF PY PGOVE PG PCI PINL POV PAHO PGGV PHALANAGE PARTY PHUS PDEM PECON PROV PAS PHUMPREL PGIV PRAM PHUH PSA PHUMPGOV PEL PSI PAIGH POLITICAL PARTIES POSTS
QA
RU RS RP REACTION REPORT RIGHTS RO RCMP RW RM REGION RSP RF RICE RFE RUPREL ROOD RIGHTSPOLMIL ROBERT RELATIONS RSO
SNAR SOCI SZ SENV SU SA SCUL SP SMIG SW SO SY SL SENVKGHG SR SF SYRIA SI SWE SARS SC SAN SN STEINBERG SG ST SPCE SIPDIS SYR SNARIZ SNARN SSA SHI SK SPCVIS SOFA SEVN SIPRS SNARCS SAARC SHUM SANC SEN SH SCRS
TRGY TBIO TU TS TSPA TSPL TT TPHY TK TI TERRORISM TH TIP TC TZ TNGD TW THPY TL TV TX TO TRSY TINT TN TURKEY TBID TD TF TFIN TP TAGS TR
UV UK UNGA US UY USTR UNSC UN UNHRC UP UG USUN UNEP UNESCO USPS UZ USEU UNCHR USAID UNMIK UNHCR UE UNVIE UAE UNO USOAS UNODC UNCHS UNFICYP UNIDROIT UNDESCO UNCHC UNDP UNAUS UNPUOS UNC UNCND UNICEF UNCSD UNDC USNC
VT VE VZ VTPREL VI VM VN VTIZ VAT VC VTEG
WTO WTRO WS WTRQ WI WZ WHO WWARD WBG WB WHA WITH WMD WIPO WMO WFP WHTI WEU WA
XG XT XZ XM XR XA XY XX XF XL XW XV XB XU XS XH XK XD XI XC XE XQ XTAG
YM YI YE YMCS
ZR ZB ZI ZU ZJ ZEALAND ZK ZF ZP ZN ZL ZA ZANU ZO ZOELLICK

### Browse by classification

CONFIDENTIAL CONFIDENTIAL//NOFORN SECRET SECRET//NOFORN UNCLASSIFIED UNCLASSIFIED//FOR OFFICIAL USE ONLY

### Community resources

Follow us on Twitter Check our Reddit Twitter this Digg this page Contact us on IRC

courage is contagious

### Viewing cable 09PANAMA519, PRIMARY PANAMA CANAL CONTRACT TO BE AWARDED

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:

- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.

To understand the justification used for the classification of each cable, please use this WikiSource article as reference.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09PANAMA519.

Reference ID | Created | Released | Classification | Origin
--- | --- | --- | --- | ---
09PANAMA519 | 2009-06-30 17:05 | 2011-04-07 00:00 | CONFIDENTIAL | Embassy Panama
Appears in these articles: http://www.padigital.com.pa/periodico/edicion-actual/wikileaks-panama-interna.php?story_id=1027140&codeth=1593

`

    VZCZCXYZ0025
    OO RUEHWEB

    DE RUEHZP #0519/01 1811705
    ZNY CCCCC ZZH
    O 301705Z JUN 09
    FM AMEMBASSY PANAMA
    TO RUEHC/SECSTATE WASHDC IMMEDIATE 3538
    INFO RUEHMD/AMEMBASSY MADRID IMMEDIATE 0334
    RUEHMIL/AMCONSUL MILAN IMMEDIATE 0019
    RHMFISS/CDR USSOUTHCOM MIAMI FL IMMEDIATE
    RUEAIIA/CIA WASHDC IMMEDIATE
    RUCPDOC/DEPT OF COMMERCE WASHDC IMMEDIATE
    RULSDMK/DEPT OF TRANSPORTATION WASHDC IMMEDIATE
    RUEATRS/DEPT OF TREASURY WASHDC IMMEDIATE
    RUMIAAA/HQ USSOUTHCOM MIAMI FL IMMEDIATE

` `

    C O N F I D E N T I A L PANAMA 000519

    SIPDIS

    DEPT OF COMMERCE - MATTHEW GAISFORD
    DEPT OF TREASURY - SARA SENICH

    E.O. 12958: DECL: 06/29/2019
    TAGS: ECON EINV ETRD MARR PM EWWT
    SUBJECT: PRIMARY PANAMA CANAL CONTRACT TO BE AWARDED

    REF: 2009 PANAMA 195

    Classified By: Ambassador Stephenson for reasons 1.4 (b) and (d).

    -------
    SUMMARY
    -------

    1) (C) The public ceremony to announce a winner for the
    Panama Canal's $3.35 billion third set of locks contract is
    expected to be July 9. Three competing consortia submitted
    bids and are led by the following firms: 1) Bechtel
    (American), 2) ACS (Spanish), and 3) Sacyr (Spanish).
    Reportedly, both Bechtel and ACS submitted technically
    compliant bids priced over $4 billion; however, there are
    doubts about Sacyr's technical and financial compliance.
    Unfortunately, there is no clear standard for minimal
    technical compliance and how a technically non-compliant bid
    would be disqualified. Sacyr's price reportedly is lower
    than $4 billion and price weighs heavily in the determination
    of the winner. Additionally, Sacyr's bid is reportedly
    supported by government export credit agencies reinsuring
    their bonding syndicate, which is against the spirit of the
    Panama Canal Authority's (ACP) public efforts to not involve
    sovereign guarantees (the inclusion of which masks a
    consortium's financial well-being and provides a financial
    bidding advantage). Post will continue to monitor the
    process, to advocate for Bechtel, and to promote U.S. based
    content.

    ------------------------------
    A WINNER WILL SOON BE DECLARED
    (IF THE BID IS RIGHT)
    ---------------------

    ¶2. (SBU) The public ceremony to announce a winner for the
    Panama Canal's third set of locks contract is expected to be
    held between July 2 and July 14, according to private
    statements made by representatives of the ACP and Canal
    Expansion Project Advisor CH2MHill to Embassy and consortia
    staff. July 9 is the most commonly reported date. As
    explained in reftel, the financial portion of the bids will
    be opened and scored during a ceremony. The financial score
    (45% of the total points) will then be combined with the
    technical score (55% of the total points), which is currently
    being calculated by a team of experts. The winner will then
    be instantaneously and publicly announced. However, if the
    winner's financial bid is higher than the ACP's price cap
    (which will be revealed moments before the consortia's
    financial bids are opened), the winner will be asked to lower
    their price to within the price cap. If the winner does not
    accept the price cap price, then the ACP will allow all
    consortia, who submitted technically and financially
    compliant bids, to resubmit price proposals. These new price
    proposals would then be combined with already determined
    technical proposals and a new winner would be declared. If
    the price is still too high, the ACP can raise its price
    ceiling (which would need approval by the National Assembly)
    or void the entire bidding process.

    --------------------------
    COMPETITORS AND THEIR BIDS
    --------------------------

    ¶3. (C) Three consortia submitted bids and are led by the
    following firms: 1) Bechtel (American), 2) ACS (Spanish), and
    3) Sacyr (Spanish). According to a representative from the
    Canal Expansion Project Advisor (American firm CH2MHill),
    each consortium submitted differing bids. Bechtel reportedly
    produced the "Rolls Royce" set of locks, which exceeded ACP
    requirements, including for throughput. (As laid out in the
    public bid documents, a consortium does not receive extra
    points for exceeding requirements.) ACS reportedly more
    closely followed the ACP's requirements. Sacyr, according to
    CH2MHill, submitted a technical proposal, which may not be
    minimally acceptable. Due to the publicly available criteria
    for scoring the technical proposals and assuming initial
    reports are accurate, it is anticipated that Bechtel and ACS
    will receive roughly the same technical score. Sacyr, if
    they are found technically compliant/viable, would score only
    slightly lower. Thus, if the technical scores are close,
    price will be the determining factor in the formula to
    determine the winner.

    ¶4. (C) Reports of the prices attached to the bids roughly
    track the quality. According to consortia members, both
    Bechtel and ACS have bids that "start with a 4" - meaning
    over $4 billion. Sacyr, via consortium member Impregilo,
    leaked to the press the price of $3.7 billion on April 21 and
    stated that they have the lowest price. Depending on the
    accuracy of the leaked price data, Sacyr's financial score
    could be significantly better than Bechtel's and ACS's.
    (Leaking the bid price is a breach of the bidding rules.
    Impregilo recently broke the bidding rules again by declaring
    that the Sacyr-led consortium has the highest technical
    score. Absent a breach in ACP security, this information was
    unknowable at the time of the statements. ACS and Bechtel
    have both written strong protest letters to the ACP.) Post's
    Senior Commercial Officer reports that during an unrelated
    meeting, a senior ACP official accidentally stated the ACP
    price ceiling is $3.62 billion.

    -------------------------
    SACYR - POTENTIAL SPOILER
    -------------------------

    ¶5. (C) When combined the financial and technical components
    of the bid are combined in 45% and 55% proportions
    respectively, the Sacyr bid could win this "best value"
    competition. A Sacyr win could be disconcerting. Sacyr is
    considered bankrupt and is being propped up by the Spanish
    government. Therefore, besides possibly having a design that
    is not workable, a Sacyr wins adds financial risk to the
    locks construction. The bid process has protections against
    non-compliant bids, if the ACP chooses to activate the
    protections. If a bid is technically non-compliant (and the
    ACP has not detailed the exact parameters of a technically
    non-compliant bid), the ACP has the option to not even open
    the price envelope. Bechtel representatives told the
    Ambassador on June 24 that they prefer this path. If a bid
    is financially non-compliant, the ACP possibly can reject the
    offer. A bid would be financially non-compliant if a
    consortium failed a financial health audit, which will be
    conducted on the winner. All consortia were determined by
    the ACP to be financially healthy as of November 15, 2007
    during the pre-qualification phase. Based upon previous
    decisions to keep all consortia in the process, the ACP is
    not expected to disqualify any consortium.

    --------------------------------
    SACYR - RECEIVING STATE SUPPORT?
    --------------------------------

    ¶6. (C) Based upon reports from representatives from competing
    consortia, Sacyr's $50 million performance bond is backed by
    the government export credit agencies of Spain
    (CESCE-Secretaria de Estado de Comercio), France
    (COFACE-Compagnie Francaise D'Assurance Pour le Commerce
    Extereur), and Italy (SACE-Servize Assicurativi del Commercio
    Estero). Sacyr gained a competitive advantage by securing
    the near equivalent of a sovereign guarantee apparently at no
    additional cost and no additional scrutiny of their books
    (vice Bechtel and ACS who had to purchase the bond on the
    open market and subjected their firms to some level of
    financial evaluation). This arrangement goes against ACP
    Administrator Aleman's publicly expressed desire not to have
    sovereign guarantees, because the performance bond ideally
    should serve as a surrogate for a consortium's financial
    health. If a consortium could not provide the $50 million
    performance bond, then the consortium was probably not
    financially healthy. If Sacyr wins, litigation from Bechtel
    or ACS is likely. For ACS, there is the added dimension of
    why the Spanish government is helping one Spanish consortium
    and not the other. It should be noted, however, that the ACP
    has not prohibited use of export credit agencies in the
    bidding process.

    -------
    COMMENT
    -------

    ¶7. (SBU) In essence, the ACP created a transparent process
    and now - due to rigid adherence to that process - may choose
    a consortium that provides the "best value," on paper, but
    may not be capable of completing the project. It appears
    that the ACP wished to retain flexibility by not clearly
    demarcating the floor of technical non-compliance and not
    deviating from its rules to ask Sacyr for a comprehensive
    audit before the bids are open. (We understand that Sacyr may
    have provided year-to-date 2009 financial data that, due to
    the limited time window of that data, could continue to mask
    Sacyr's true financial condition.) Post will continue to
    monitor the bidding process closely to ensure fairness. Post
    maintains frequent communication with Bechtel representatives
    in order to coordinate actions to assure Bechtel is not
    unfairly disadvantaged.
    STEPHENSON

`