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Panama’s hole in the ground opens way to the future of global shipping. $5.25 billion project set for 2014

Wednesday, August 17, 2011


\ For now, the future of global shipping is little more than a hole in the ground in Panamá, just a short distance from the Pacific Ocean. Ah, but what a hole it is.\ \ About a mile long, several hundred feet wide and more than 100 feet deep, the excavation is an initial step in the building of a larger set of locks for the Panama Canal that should double the amount of goods that can pass through it each year. The $5.25 billion project, scheduled for completion in 2014, is the first expansion in the history of the century-old shortcut between the Atlantic and Pacific.\ \ Original source: New York Times\ \ \ \ \