Panama for Multi-Million
loans for the Canal
Panama Canal's manager
Alberto Aleman began a
series of meetings with
40 financial entities in
New York looking for
multi million loans to
enlarge the canal.
Since Monday and until
Friday Aleman will put
forward the building
plan of a third set of
locks that will permit
passage of enormous size
and deep draft vessels.
The Canal was built
between 1904 and 1914 to
allow annual passage of
about 14 thousand
vessels with a
merchandize volume
equivalent to five
percent of the world
market.
It is considered a
maritime technological
wonder and one of the
main sources of income
of the Panamanian
country, the waterway is
already small and
insufficient for big
vessels' transit.
The enlargement project
will demand an
investment of over five
thousand million
dollars.
The daily news La Prensa
announced this Monday
the local bank's
complaints of feeling
pushed into the
background what could
make the environment
become overheated around
the ambitious business. |
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