Panama Canal Development Project On Pace For Completion

摘要

While continuing to adjust its economic forecast, Panama Canal authorities insist the expansion project is on schedule for completion in 2014. "The big question for all of us is 'when will a demand for carrier capacity be restored? " said Alberto Aleman Zubieta, administrator and CEO of the Panama Canal Authority (ACP) in an interview with LM. "In any case, we want the project on track and have it provide the industry with a more efficient routing solution." The expansion project was initially announced in October 2006, when nearly 80 percent of voters in a national referendum held in Panama voted in favor of expanding the Panama Canal. When completed, the construction project will double the capacity of the increasingly congested waterway to 600 million tons a year and allow it to handle much larger vessels.