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Panama-Canal Panama Canal Sets Sights On New $17 Bln Expansion Project

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By Reuters

COCOLI, PANAMA (MARCH 23, 2015) (REUTERS) AERIAL VIEW OF CARGO SHIPS ON CANAL VARIOUS OF AERIAL VIEWS OF EXPANSION PROJECT CATERPILLAR TRUCK USED FOR CONSTRUCTION AT CANAL VARIOUS OF PANAMA CANAL EXPANSION PROJECT ENGINEERS TALKING AT CONSTRUCTION SITE WORKERS AT CONSTRUCTION SITE MORE OF ENGINEERS AT CONSTRUCTION SITE VARIOUS OF CONSTRUCTION SITE WHEELS ON CARGO VEHICLE MOVING STRUCTURE BEING MOVED EMPLOYEE SUPERVISES WORK WIDE OF EXPANSION PROJECT COCOLI, PANAMA (MARCH 24, 2015) (REUTERS) EXTERIOR OF OFFICES OF THE PANAMA CANAL AUTHORITY THE PANAMA CANAL AUTHORITY'S HEAD, JORGE QUIJANO, WALKING INTO ROOM, GREETS REPORTER REPORTER INTERVIEWING QUIJANO (SOUNDBITE) (Spanish) THE PANAMA CANAL AUTHORITY'S HEAD, JORGE QUIJANO, SAYING: "Looking at our geology and the experience we gained with this current expansion, we estimate it's a project that could cost between $16 billion and $17 billion, but it would also need water, because the canal has water but a good portion of that water is used to supply water for human consumption." COCOLI, PANAMA (MARCH 23, 2015) (REUTERS) EXPANSION WORK SEEN FROM ABOVE MORE OF EXPANSION PROJECT SEEN FROM GROUND GENERAL VIEW OF CONSTRUCTION SITE ENGINEERS AT SITE CRANES USED AT CONSTRUCTION SITE CLOSE-UP SCREWS COCOLI, PANAMA (MARCH 24, 2015) (REUTERS) MORE OF REPORTER INTERVIEWING QUIJANO (SOUNDBITE) (Spanish) THE PANAMA CANAL AUTHORITY'S HEAD, JORGE QUIJANO, SAYING: "CHEC (China Harbour Engineering Company Ltd) has reiterated its interest, not only in the construction of a fourth set of locks, but also to finance it. We have seen, after more recent communications with Chinese companies, a lot of interest in investing in Latin America and in Panama, in particular." COCOLI, PANAMA (MARCH 23, 2015) (REUTERS) CATERPILLAR VEHICLE DRIVING PAST MODEL OF SHIP COCOLI, PANAMA (MARCH 24, 2015) (REUTERS) (SOUNDBITE) (Spanish) THE PANAMA CANAL AUTHORITY'S HEAD, JORGE QUIJANO, SAYING: "The most difficult thing I see (in Nicaragua canal), is to complete it in five years. The technology exists. I think the costs they (Chinese company) have estimated are under-calculated. Rather than $50 billion, I see it more like $70 billion, based on our recent experience. We see they will to move some 5 to 5.5 billion cubic metres of dry land and dredging. At the Panama Canal, we have taken care of 548 million cubic metres in 134 years." COCOLI, PANAMA (MARCH 23, 2015) (REUTERS) GENERAL VIEW OF LOCKS UNDER CONSTRUCTION MORE OF ENGINEERS AT NEW LOCKS MORE OF CONSTRUCTION SITE VARIOUS OF AERIAL VIEWS OF WATER, VEGETATION, CANAL, SHIPS WITH CONTAINERS
Dateline: 2015

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