First Panama Canal Expansion Project Begins
An audience of 30,000, including world business and government leaders, assembled
in Panama earlier this month to witness the historic first step towards the
expansion of the Panama Canal - the first major improvement to the canal's capacity
since its completion almost a century ago. The expansion programme will add a new lane of traffic along the Panama Canal
through the construction of a new set of locks, which will double capacity and
allow more traffic and longer, wider ships. The contract for the first phase
of the canal expansion was awarded to Panamanian firm Constructora Urbana S.A.
(CUSA) in July. The first construction project got underway in a ceremony on September 3; a
dry excavation project on Paraiso Hill that begins the construction of the new
Pacific Locks access channel. The new Pacific Locks access channel will ultimately
connect the Gaillard Cut to the new Pacific Locks. "It's a historic day. Expansion will have a significant role in world
trade and the maritime industry. This project brings a true sense of pride and
a real sense of responsibility. We are ready to meet the demands ahead and,
truly, the best is yet to come," stated ACP Board of Directors Chairman and
Minister for Canal Affairs, Dani Ariel Kuzniecky. "We are grateful for the
tremendous support of this project and we are honored by the presence of government
officials from around the world, particularly former US President Jimmy Carter." In a national referendum on October 22, 2006, Panamanians voted to expand the
Canal. Expansion will double Canal capacity to more than 600 million Panama
Canal tons, tighten the global supply chain and help get goods to market faster.
"We have researched and planned this project for years; we have the approval
of the Panamanian people. As we stand here today, our vision and perseverance
have paid off. Now, it is time to execute. Now it is time to begin the expansion
of the Panama Canal," announced ACP Administrator/CEO Alberto Aleman Zubieta. "It is truly an honor to lead this great organization. We all know about
those who risked so much and tried so hard to build the Canal more than 100
years ago. As we dig, as we build, as we expand the Canal, we will be thinking
of those pioneers while also looking to the future. A future that is bright
for the Canal and world trade. A future that is bright for Panama - a country
that is becoming the transportation and logistics hub of the Americas,"
he added. The Panama Canal services more than 144 different transportation routes from
every corner of the globe, connecting major trading arteries. .
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