{"id":24068,"date":"2007-08-15T13:38:48","date_gmt":"2007-08-15T13:38:48","guid":{"rendered":"https:\/\/pancanal.com\/en\/?p=24068"},"modified":"2021-09-10T13:39:03","modified_gmt":"2021-09-10T13:39:03","slug":"panama-canal-turns-93","status":"publish","type":"post","link":"https:\/\/pancanal.com\/en\/panama-canal-turns-93\/","title":{"rendered":"Panama Canal Turns 93"},"content":{"rendered":"

EFFICIENT, SAFE AND RELIABLE – A MODERNIZED CANAL\u00a0LOOKS TO THE FUTURE WITH ITS EXPANSION PROGRAM<\/em><\/p>\n

PANAMA CITY, Panama, August 14, 2007 –\u00a0<\/strong>A tremendous engineering achievement that has connected the maritime world for nearly a century, the Panama Canal is only improving with age.\u00a0 Ninety-three years after its grand opening in 1914, the Panama Canal will mark its anniversary tomorrow by celebrating the successful start of its historic Expansion Program.<\/p>\n

Nearly a year after Panamanians overwhelmingly approved a national referendum to expand the waterway, the Panama Canal Authority (ACP) has set the project in motion. It awarded the first expansion-related construction contract, the first of five dry excavation projects that will create the new Pacific Locks access channel. This new channel will link a new, third set of locks on the Pacific end of the Canal with the existing Gaillard Cut (the narrowest stretch in the Panama Canal).<\/p>\n

Recently, the ACP assembled an experienced internal team to manage this historic undertaking, hired legal and financial advisors, and released other preliminary tenders. It has also presented the Canal’s Expansion Program to international financial institutions, as it begins to weigh financing alternatives for the project.<\/p>\n

“On our anniversary, we celebrate the marvels of a 93-year-old Canal that has passed the test of time and has seen the passage of history, yet it’s in excellent working condition, even today.\u00a0We continue to aggressively meet the growing demands of world trade\u00a0providing our customers with\u00a0efficient, reliable\u00a0and safe service, which remains our top priority. Over the years, the Panama Canal has increased its efficiency, and we will continue to enhance the waterway to make it better than ever. From its original construction to\u00a0the current Expansion Program, the Canal is a landmark achievement for the country of Panama and an immense benefit to the\u00a0world,” said Administrator\/CEO Alberto Alem\u00e1n Zubieta.<\/p>\n

Expansion will build a new lane of traffic along the Panama Canal through the construction of a new set of locks, doubling capacity and allowing more traffic and longer, wider ships. This project, which just received the 2008 Samoter award for “Best Construction Project in the World,” will be the largest undertaking at the Canal since its opening.<\/p>\n

There were 14,194 total transits in fiscal year 2006. Since August 15, 1914, more than 922,000 vessels have transited the waterway.<\/p>\n

About the Panama Canal Authority
\n<\/strong>The Panama Canal Authority is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the Panama Canal Authority’s Web site:\u00a0http:\/\/www.pancanal.com\/<\/a>. For Panama Canal video, please visit\u00a0www.thenewsmarket.com\/panamacanal<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

EFFICIENT, SAFE AND RELIABLE – A MODERNIZED CANAL\u00a0LOOKS TO THE FUTURE WITH ITS EXPANSION PROGRAM PANAMA CITY, Panama, August 14, 2007 –\u00a0A tremendous engineering achievement that has connected the maritime world for nearly a century, the Panama Canal is only improving with age.\u00a0 Ninety-three years after its grand opening in 1914, the Panama Canal will … Continue reading “Panama Canal Turns 93”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":"","_wp_rev_ctl_limit":""},"categories":[1],"tags":[],"class_list":["post-24068","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"\nPanama Canal Turns 93 - Autoridad del Canal de Panam\u00e1<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pancanal.com\/en\/panama-canal-turns-93\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Panama Canal Turns 93 - 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