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Tuesday, November 20 2018 @ 01:12 PM UTC

Panama Canal Administration Spends $200 Million Annually on Maintenance

Canal Daily OperationTwo hundred million dollars is the investment made by the Panama Canal Authority (ACP), in maintenance annually, which represents 23% of its spending.

This was announced by Jorge Quijano, ACP Administrator, during the speech that started the First International Congress of Maintenance, which will be based on a culture of performance, maintenance and sustainability of enterprises, and develop three themes: reliability and maintenance, maintenance management, and maintenance technology.

The exhibitors from the United States, Chile, Costa Rica, Colombia, Mexico, Brazil and Uruguay, emphasize practical experiences and modern approaches to maintenance management in Panama and elsewhere.

Quijano hoped with the conference they will receive "a new culture of maintenance in Panama and the world." (Panama America)

Editor's Comment: It's important to note that all $200 million spent by the Panama Canal Authority to maintain the Panama Canal every year stays right here in Panama. The money comes into the ACP from the tolls paid by ships to pass through the canal, and this part of that money gets inserted in an indirect manner into the broader Panamanian economy. When the Panama Canal expansion project is complete, then this number will probably about double every year. No matter, because it's just more money to flow through the Panamanian economy.

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