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Panama Canal Authority (ACP) is recommending the building of a new lane
along the Panama Canal that will double capacity at an estimated cost of
US$5.25bn.
The ACP says the expansion “will be paid entirely by users of the Canal
through a graduated toll system”.
The recommendation was formally put to the Panamanian government in a
set-piece ceremony yesterday.
The Authority said after several years of analyzing and reviewing hundreds
of studies and projections, it is recommending the expansion of the Panama
Canal. Our vision is clear - this project will be for the benefit of the
people of Panama and world trade.
“Panama's geographic location is its destiny - we aim to be at the centre of
global trade and become a great maritime hub. The time is right and the time
is now,” ACT Administrator/CEO Alberto Alemán Zubieta said.
"Panama has been successful in managing and operating the Canal since the
U.S. handover in 1999. We have broken several records and have set the bar
high for efficiency, safety and reliability, while at the same time bringing
more benefits to our country. At this juncture, we are up to the task to
take on Canal expansion, to add more capacity and to ensure reliable service
for our customers for decades to come port workers will undergo checks for
links to terrorism,” he added. |
