Panama Says Canal Expansion on Track

Panama Says Canal Expansion on Track

Panama

The Panama canal’s $5.25bn expansion program is proceeding on-time and on-budget, says the Panama Canal Authority’s (PCA) vice president of research and market analysis Rodolfo Sabonge. “We have gone through world wars, Asian flu, the Iraq war, and other economic and financial upheavals in the world, but we have and continue to weather all the challenges that come our way,” Sabonge tells a shipping conference in Singapore. The PCA said in October that it would borrow $2.3bn from 5 multilaterals,

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