The Panama Canal expansion project has reached a five year mark with 44.5% completion at August 31, 2012 and cumulative generation of over 27,000 direct jobs.
“The Canal expansion impacts in various forms on the country, and one of these are economic, and it is more visible to the workforce. There are also, new investments, new knowledge and technology transfer,” said ACP Administrator, Jorge Luis Quijano in marking the milestone.
The components of the Canal expansion show different levels of advancement up until August 31 this year. The first three phases on the Pacific access have been completed, while the fourth contract recorded an advance of 67%. Dredging on the Atlantic and Pacific entrances has advanced 92% and 98%, respectively.
Deepening and widening of the Gaillard Cut and Gatun Lake have advanced by 76%, while the design and construction of the new locks is 31% complete.
The lock valves are being made in Korea and delivery of components has been ongoing for some time now. These are being incorporated into the lock structure.
The contractor is expected to complete the main lock structure and begin dry pre-commissioning tests during the first quarter of 2014, with flooding of the locks and final commissioning planned to start in September 2014.
This post is also available in: Spanish