Panama Canal Expansion Project – April 2016 Update
- Business & Finance
Eight years have passed since the beginning of works on the Panama Canal Expansion Program, the largest infrastructure project since the waterway’s original construction.
The Expansion Program – which will create a new lane of traffic along the canal through the construction of a new set of locks, increasing the waterway’s capacity – is nearing its completion and is now 97 percent complete.
The opening of the expanded canal in 2016 will mark the culmination of several years of efforts.
Once fully operational, the new set of locks will double the capacity of the Panama Canal, creating a new lane of traffic and allowing larger New Panamax size vessels to travel the canal.