Bank President Visits Panama Canal Locks

Press Release
Tuesday, March 12, 2013
IDB Delegates: Photo credit PCA

President of Inter-American Development Bank (IDB), Luis Alberto Moreno, visits the construction site of the new locks in Colon province.

The new locks, situated on the Atlantic side, were visited by Moreno, accompanied by IDB delegates, who are in Panama to participate in the Fifty-Fourth Annual Meeting of the Board of Governors which takes place from March 14 to 17, 2013. During the visit, Panama Canal Administrator Jorge Luis Quijano presented an update on the progress of the Expansion Program.

The Panama Canal Administrator highlighted the importance of this visit since the IDB is one of the five multilateral institutions that are supporting the Expansion Program through partial funding.
 
The IDB, together with the Japan Bank for International Cooperation (JBIC), the European Investment Bank (EIB), the Corporación Andina de Fomento (CAF) and the International Finance Corporation (IFC), signed an agreement with the Panama Canal Authority in December 2008 for the financing of $2.3 billion for the waterway's expansion to cover a portion of the $5.25 billion total cost of the project.
 
The Panama Canal Expansion will double the waterway’s capacity through the construction of two new locks that will add a third lane, allowing the transit of more cargo and larger vessels.
 

 

Maritime Reporter November 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

Wärtsilä to Begin Building LNG Terminal in January

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Standards Navigation Offshore Oil Pod Propulsion Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2607 sec (4 req/sec)