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$5 billion forecast for additional Panama Canal annual revenue after expansion

Thursday, February 2, 2012

Once the expansion of the Panama Canal is complete, additional annual income from the waterway is expected to reach up to $5 billion, said Omar Castillo, Panama's deputy minister of Economy.

After the extension, the canal will be able to take ships transporting around 14,000 TEU, compared to the current ships which can take around 4,000 TEU.

The works are expected to be completed by 2014.

Source: La Estrella