Panama Canal to Invest USD 238 M in Maintenance Projects
The Panama Canal Authority (ACP) will invest in its fiscal year (FY) 2014 (October 1, 2013 to September 30, 2014) approximately US$238 million in maintenance of structures and equipment to continue providing an efficient service to the international maritime community.
“The key to the Panama Canal’s operational excellence is a combination of its committed workforce and constant maintenance,” Executive Vice President for Operations Esteban Saenz said. “Each year we dedicate significant resources to this aspect of the Canal.”
About to reach its centennial, the Canal guarantees its efficiency through the permanent maintenance and modernization of its infrastructure. Approximately, US$2 billion have been invested since 2000.
The Panama Canal will continue the maintenance programs necessary to ensure the waterway’s optimal operating conditions. The main areas of maintenance include, among others, the navigation channel through dredging operations; the control of erosion and landslides; floating equipment such as tugboat, dredgers, cranes and launches; the locks and their components; and the dams, landfills, power plants, buildings and facilities.
Press Release, August 14, 2013