Panama CanalThe Panama Canal is a spectacular passageway through the Isthmus of Panama, connecting the Atlantic and Pacific Oceans. Learn more about the Panama Canal, Panama Canal History, Panama Canal Maps, and Panama Canal Photos.
A plan to widen the Panama Canal (with a cost of $5 billion) has been approved by the Panamanian Congress. The 80km (50 mile) long Panama Canal handles nearly 5% of global trade. The current locks are 33 meters (108 feet) wide, and the new locks will be 50 meters (150 feet). A third lane of traffic will be able to handle the wider loads. Panama says the cost of the widening of the canal will be met from increased tolls, supplemented by a $2.3 billon loan.
"We are more than capable of completing this project," Newman said. "If we don't move forward, we Panamanians will miss out on the revenue the new, bigger ships will bring into the country."
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