Panama Canal Expansion 5-Year Update
Five years ago, the Panama Canal Expansion broke ground at Paraiso Hill & the latest update shows progress estimated at 44.5%. "The Panama Canal Expansion Program is moving forward at a good pace. The program has made positive contributions to Panama´s economy such as direct employment, investments, knowledge and technological transfer,” said Panama Canal Administrator/CEO Jorge L. Quijano. Three of the four dry excavation projects have been completed and the 4th project reached 67% through August 31, 2012. The dredging of the Pacific and Atlantic entrances and of the Gatun Lake are advancing as scheduled with progress reaching 92%, 98%, and 76% respectively. The locks design and construction has reached 31%.
Expanding Panama Canal: One Year after Groundbreaking
On September 3, 2007, Panamanian President Martín Torrijos, the Panama Canal Authority (ACP) and several former and current heads of state witnessed and celebrated the historic groundbreaking of the Canal Expansion Program. Expansion, which will build a new lane of traffic along the waterway through the construction of a new set of locks, will double capacity and allow more traffic and longer, wider ships. In addition, it will significantly augment the Canal’s revenue stream while maintaining the viability of the route. That September morning, joined by more than 30,000 Panamanians, the ACP kicked off its first major construction project of expansion – the dry excavation of Paraiso Hill.
Panama Canal Breaks Ground
Panama Canal Authority (ACP) in a ceremony and groundbreaking to celebrate the beginning of the first-ever expansion of the nearly 100-year-old waterway. double capacity and allow more traffic and longer, wider ships. Today’s event inaugurates the first construction project of expansion: a dry excavation project on Paraiso Hill that begins the construction of the new Pacific Locks access channel. The new Pacific Locks access channel will ultimately connect the Gaillard Cut to the new Pacific Locks. In a national referendum October 22, 2006, Panamanians voted to expand the Canal, a momentous step that will ultimately secure their future and that of world trade.
