Based on comprehensive analyses and studies by the Panama Canal Authority (ACP), its Board of Directors has recommended the building of a new lane along the existing Canal. The project is targeted for completion in 2014.
Expansion would involve construction of a new set of locks along the new lane. Of extreme importance to the ACP is sustainable development and environmental best practices. By building water-saving basins next to the new locks – which will reuse 60% of the water in each transit – there will be no need for dam construction, flooding and displacing communities along the Canal.
The ACP’s intention is to have the project paid for by those using the Canal through a graduated system of tolls. ACP projections are that the waterway will be at full capacity by the time the new Canal becomes operational.