Panamanians Vote For Canal Expansion

Created by doina. Last modified on 2006-11-01 12:20:13
Countries: Panama

On October 22 voters in Panama voted in a referendum to approve a massive modernisation project for the Panama Canal estimated to run to well over US$5 billion. The project would double the canal's capacity, allowing larger ships to transit the canal as well as alleviating some of the current traffic congestion problems. Turnout to the vote was low, but of those voting about 80% were in favour.

The project's costs are expected to be financed largely from Canal revenue, which means canal users are sure to see an increase in tolls as a result.