FACT OF THE PANAMA CANAL EXPANSION PROJECT
For the construction of the new locks, the following materials will be needed:
CEMENT: One millions tons
SAND: 1.1 millions cubic meters
CONCRETE: 4.4 millions cubic meters
AGGREGATE: 2.4 millions cubic meters of thick aggregate
The Project
The Panama Canal expansion is one the largest and most ambitious projects in the region. In the last four years demand for Post Panamax vessels (the ones that are too large to pass through the existing locks) has increased significantly due to efficiencies gained with containerized cargo (50 percent of ships currently being ordered by the largest shipping lines are post-panamax).
The cost of the project is estimated at $5,250 million. This project will entail tremendous commercial opportunities for U.S. firms, including maritime equipment; construction equipment; heavy machinery; dredging equipment and services; and engineering and architectural services.
On October 22, 2006, the people of Panama overwhelmingly approved the expansion of the Panama Canal.
For more information on the Panama Canal expansion project, please access the following website: