ALBA Helps Nicaragua
Off Esso Hook
23
New AH1N1 Cases Reported in Panama, Raising
Total To 130
Panama Canal Spends $320M To Boost Capacity
To 40 Ships A Day
Guatemala Security Plan
Panama Canal Spends $320M To Boost Capacity
To 40 Ships A Day
By Inti Landauro, Dow Jones Newswires
(Dow Jones) - The Panama Canal Authority
invested $320 million since October 2008 in
improvements to boost the canal's capacity
to 40 ships a day, the authority said Friday
in a statement.
The investment includes an upgrade of the
lighting system in the canal's locks, the
acquisition of five new tugboats, and an
additional tie-up station and other
improvements, the statement said.
Those investments are not included in the
$5.25 billion expansion plan that will
duplicate the canal's capacity by 2014 and
to allow wider and longer ships to move
between the Atlantic and Pacific oceans.
The Canal Authority will finance the
expansion with $2.3 billion worth of loans
from five international lenders and the rest
will come from canal-generated cash flow.
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