The Panama Canal plans to invest some 3 billion dollars over the next five years for the development of new businesses, including a gas pipeline, the administration of the route that connects the Atlantic and Pacific reported on Wednesday.
In an official statement, the Channel said it plans to invest more than 8.5 billion dollars in the next five years “to keep the waterway modern, competitive and sustainable.”
Among the main programs to be developed is the investment of 3 billion dollars for new businesses, including the pipeline.
This project is one of the “new alternatives in order to diversify the operations of the Canal,” as explained last November by the administrator of the road, Ricaurte Vásquez.
On April 4, the Canal reported that it will bid for a project for the transport of energy products as “part of the sustainable development of the west bank route that includes activities and alternatives that complement the transport of products by sea.”
Without giving more details about the tender, for example, when it will be launched or the base price of the project, the Canal then stressed that the development of this activity will consolidate Panama’s strategic position and keep the navigable passage competitive, “expanding its capacity and providing a quality service to the world.”
Other plans for the next five years include the investment of 2.5 billion dollars in infrastructure, 500 million for the maintenance of the Gatun dam, 700 million for the replacement of more efficient and environmentally friendly tugs, and about 1.6 billion dollars for the construction of a new reservoir in the Indian River.
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“These investment programs have a solid sustainable approach to continue providing more economic contributions to the country, take advantage of its geographical position and continue to contribute to Panama’s socioeconomic progress,” added the official statement released on Wednesday.
The Channel recalled that in the last 25 years it has invested more than $15 billion to ensure its long-term operation, including the expansion, which cost more than $5.25 billion.
The commissioning of the third lane in mid-2016 “has allowed higher capacity ships to transit through the Canal and, in addition, serve market segments that the route could not attend to, such as the case of liquefied natural gas (LNG) vessels,” he said.
The Panama Canal is a relevant international trade route that serves more than 180 maritime routes connecting 170 countries and reaching about 1,920 ports around the world.
The waterway that connects the Atlantic and the Pacific and has the United States as its main customer, followed by by far China and Japan, projects revenues of 5,623.5 million dollars in the fiscal year 2025, 17.7% more than the figure budgeted for the 2024 fiscal period.