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PANAMA: Construction start-up on long-stalled $5,250,000,000 canal expansion project is now...

PROJECT OVERVIEW:

The Panama Canal's lock system is too small for many modern tankers and ships making the passage, mainly from the United States, Japan, China and Chile. As global shipping increases, users also face longer waits to make the 80 km-long inter-oceanic trip. As a result, Panamanians recently overwhelmingly backed a long-stalled plan to give their famous 92-year-old canal its biggest-ever overhaul in order to enable the inter-oceanic canal to handle large-scale modern cargo ships.

The planned modernization project, to be undertaken by AUTORIDAD

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