The Expansion of the Panama Canal

The expansion of the Panama Canal, also known as the Third Lock Expansion, is one of the most important projects to expand and modernize the canal, with the aim of making it more functional and efficient. This ambitious work is considered the largest since the original construction of the canal.

Origin and Approval

The project was proposed by the Panama Canal Authority after several years of studies and research. On April 24, 2006, then-President Martin Torrijos presented the plan. The project was approved in a national referendum held on October 22, 2006, with 76.8% of popular support.

Project Goal

The primary objective of the expansion is to double the canal’s capacity, allowing for increased maritime traffic and the passage of larger vessels. This increase in capacity will contribute to the country's economic growth and improve its global competitiveness.

Components of the Project

The expansion project involves several key stages, including:

1. Construction of two lock complexes, one on the Atlantic side and the other on the Pacific side. Each complex will have three chambers and additional tanks for water recycling.
2. Excavation of new access channels to the new locks, as well as the widening of existing navigation channels.
3. Deepening of the navigation channels and raising the operating water level of Lake Gatun, which will allow larger vessels to pass.

Approval and Start of the Project

The project was unanimously approved by the Panama National Assembly on July 14, 2006. Additionally, a law was passed to hold a national referendum on the proposal. With the majority of the population’s approval, the expansion of the Canal officially began in 2007.

Costs and Timeline

The construction of the third lock complex is estimated to cost approximately 5 billion US dollars. This project is designed to take several years and will transform the Panama Canal into one of the world's main shipping routes.