Panama Canal Expansion Project 13% Complete
As of today, the work on the to expand the Panama Canal has been underway for three years, and thus far 13% of the project has been completed. The expansion of the waterway adds one more lane to the existing two. The main component of the expansion is the construction of new locks in the Pacific and Atlantic sectors. During the past three years work has been concentrated in the removal of dirt and dredged materials, and preparing for the construction of the third set of locks by GUPC. The new locks, the size of four football fields, will allow the transit of so-called post Panamax ships, with a capacity to carry 12,000 containers, three times more than the ships that currently fit through the Panama Canal. The ACP has established 21 October 2014 for the completion of the work for the main contract, the consortium United for Panama Canal (GUPC), which will be paid $215,000 for each additional day of early completion. (Panama America)
