Panama Canal Widening in Progress
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Panama Canal Widening in Progress
Panama - The excavation
and dredging works to enlarge the Panama
Canal are in different levels of execution,
as part of a process that should conclude in
2014, sources of the sector said in this
capital on Sunday.
Panama Canal Authority executives said the
first dry excavation stage, of which CUSA
Company is in charge, has been fulfilled in
almost 90 percent.
The second contract, awarded to Cilsa Panama
and Minera Maria Company, has been executed
in 60 percent, and the third is still in its
initial stage.
The ACP report in late December said the
value of the already agreed contracts
reached $339.4 million at that time.
The program consists of the construction of
two lock complexes, with three levels each,
together with the widening and deepening of
the existing navigation channels in the
Gatun Lake and the Atlantic and Pacific
Oceans.
Another dry digging of approximately 4 miles
will be performed to join the Pacific and
Corte Culebra locks.
Three consortiums presented their respective
proposals to design and build the new locks
of the Canal.
The Panama Canal widening will cost $5.2
billion, $3.2 billion of which will be spent
in the locks.
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