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Panama Canal expansion almost half completed

Thursday, October 25, 2012

The $5.25-billion project to expand the Panama Canal has been completed by 46.5 percent, authorities said yesterday.

By the end of the third quarter of this year, some $4.28 billion had been invested in related contracts, the Panama Canal Authority said in a report.

Currently, nearly 5 percent of the world's shipping trade goes through the canal. The expansion project is expected to be completed by the end of 2014.

Source: Xinhua