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Panama Canal Extension Underway
With the support of the
citizenship in the October 22
referendum, the Panama Canal
Authority (ACP) is beginning
Tuesday a new stage to enlarge
the maritime route.
Although abstentions hovered
around 57 percent, nearly 78
percent of Panamanians who voted
buttressed the construction of
three locks.
As a first step, the ACP will
adjust tolls to finance part of
the project, redefine the
widening plan and overhaul the
Canal investment program for
2007.
For that entity and the
government, that plan will
enable modernizing and make more
profitable the inter-oceanic
route.
This year, the Canal will
provide the nation with earnings
of $600 million but authorities
reckon that the enlargement
would increase that figure
eightfold by 2025.
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