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Delays and glitches bust Panama expansion budget

Monday, January 25, 2016

When the Panama Canal’s third set of larger locks open to commercial traffic this spring, the massive expansion project will be more than a year and a half behind the original target date of October 2014 and an estimated $150 million over the $5.25 billion budget set 10 years ago.

Ships will be run through the new locks by the end of April to test their performance, so if they perform as required by the canal authority’s contract with the consortium building them, they may be opened to commercial traffic in May.

Source: Journal of Commerce