Panama Canal Expansion
Creates Jobs
The expansion of the
Panama Canal must
generate some 42,000
jobs, according to
official statistics,
although only 300
employments have been
created so far.
A report published in
the newspaper La Prensa
says that according to
estimates by the
administrating
authority, four or five
indirect jobs will be
created per every direct
employment.
The study adds that more
than 1,500 jobs will be
created in 2007 and 2007
to enlarge the Panama
Canal.
The first 300 new jobs
are dry excavation
contracts started by the
firm Constructora Urbana
S.A. on September 3.
A year after the
enlargement works were
approved in a popular
referendum, Canal
Administrator Alberto
Aleman is satisfied with
results.
The Panama Canal
Authority (ACP) is
weighing the possibility
to seek investment to
finance the works on the
local market.
ACP Deputy Administrator
Jose Barrios said
250-dollar bonds might
be issued through the
Stock Market, so that
they cannot be hoarded
by a single company.
Construction of a third
wider and deeper lock in
the Panama Canal will
cost 5.25 billion
dollars, so it will be a
great business for the
international banking
sector. |
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