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Panama Canal Expansion 96 Percent Complete

Date: 21-DEC-2015

Panama City, Panama, December 21st, 2015 -The Panama Canal Authority (ACP) has proudly announced that the first-ever expansion is 96 percent complete. A video of recent progress can be seen at: http://micanaldepanama.com/expansion/.

In line with this, ACP CEO/Administrator Jorge L. Quijano provided a next-step update at an industry event Friday in Panama City.
The key points:
  1. Locks reinforcements are scheduled to be completed mid-January 2016.
  2. Testing of locks reinforcements and additional testing will occur next.
  3. In April, transit trial tests with a chartered vessel in the Atlantic locks will occur (following conversations with GUPC).
  4. A date for the expansion’s inauguration will be then be selected, expected to be in the second quarter of 2016
  5. Subsequently, the commercial opening date will be selected. The opening will be soon after the inauguration.
  6. The ACP is building the expanded Canal for the long haul, and quality and testing are critical. The ACP will continue to provide updates on the project as more progress and information is made available.
Commenting further, Mr. Quijano expressed his anticipation.
"We are very close—only four percent remains to complete the project,” Quijano said. “An expansion of the Panama Canal has never been done and we should all feel very good about where we are today."
"After a successful year, we look forward to being able to provide the benefits of the new Canal to our customers and the people of Panama."

About the Panama Canal
The Panama Canal is run by an autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the Panama Canal Authority (ACP) is based on its organic law and the regulations approved by its Board of Directors. For more information, please refer to the ACP's website: http://www.pancanal.com or follow us on Twitter @thepanamacanal.
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