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Panama Canal expansion to be concluded end-2014

Thursday, May 17, 2012

Expansion of the Panama Canal is on track and is likely to be completed by the end of 2014, a senior official of the Panama Canal Authority said Wednesday.

There may have been a few delays but generally the project is running on schedule and it will be finished in the next 2.5 years, said Maria Eugenia de Sanchez, the authority's senior specialist on traffic projections.

Very large vessels carrying coal from Colombia and iron ore from Venezuela and northern Brazil to China, which currently move via the Cape of Good Hope, can then move through the canal, she said.

Source: MarketWatch