International Dredging Review

International Dredging Review
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The Chairman of the Panama Canal Authority’s (ACP) Board of Directors announced on April 24 the Board’s recommendation to build a new lane along the Panama Canal that will double capacity and allow more traffic. This is the result of comprehensive analyses and studies by the ACP. The project is estimated to cost $5.25 billion and will be paid entirely by users of the canal through a graduated toll system. Dr. Ricaurte Vásquez M. Chairman of the ACP’s Board of Directors submitted the recommendation to President Martín Torrijos at a Town Hall meeting in Panama. The president will discuss the recommendation with his cabinet make a recommendation to the National Assembly and the process will culminate with the Panamanian people voting in a national referendum.