Panama Canal Expansion Project Reaches 96 Percent
- Business & Finance
The Panama Canal Authority (ACP) has announced that the Panama Canal Expansion project is now 96 percent complete.
In line with this, ACP CEO/Administrator Jorge L. Quijano provided a next-step update at an industry event held last Friday in Panama City.
“We are very close—only four percent remains to complete the project,” Quijano said. “An expansion of the Panama Canal has never been done and we should all feel very good about where we are at the moment.”
Commenting further, Mr. Quijano said that after a successful year, ACP is looking forward to provide the benefits of the new canal to its customers and the people of Panama.
The key points:
- Locks reinforcements are scheduled to be completed mid-January 2016.
- Testing of locks reinforcements and additional testing will occur next.
- In April, transit trial tests with a chartered vessel in the Atlantic locks will occur (following conversations with GUPC).
- A date for the expansion’s inauguration will be then be selected, expected to be in the second quarter of 2016.
- Subsequently, the commercial opening date will be selected. The opening will be soon after the inauguration.
- The ACP is building the expanded Canal for the long haul, and quality and testing are critical. The ACP will continue to provide updates on the project as more progress and information is made available.