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Panama Canal's expansion on track amid $5.25 billion project. "Will change the face of shipping as we know it", says chief

Monday, November 28, 2011

The $5.25 billion project to add a new traffic lane to the Panama Canal by 2014 is on track and "will change the face of shipping as we know it and will bring positive benefits for all," Panama Canal Authority chief Alberto Aleman Zubieta said.

He was speaking at the Terminal Operations Conference & Exhibition Container Supply Chain: Americas 2011 held in Panama City.

The authority announced Oct. 12 that it had completed phase three of the dry excavation project in the construction of the Pacific Access Channel, which will connect the third set of locks with the Culebra Cut and Gatun Lake.

Original source: OHS