{"id":16057,"date":"2016-03-09T14:45:24","date_gmt":"2016-03-09T19:45:24","guid":{"rendered":"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/?p=16057"},"modified":"2016-03-09T14:45:24","modified_gmt":"2016-03-09T19:45:24","slug":"panama-vp-questions-nicaragua-canal-cost-effectiveness","status":"publish","type":"post","link":"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-vp-questions-nicaragua-canal-cost-effectiveness\/","title":{"rendered":"Panama VP questions Nicaragua Canal cost effectiveness"},"content":{"rendered":"<p><a href=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/03\/Panama-vp.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-16058\" src=\"http:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/03\/Panama-vp.jpg\" alt=\"Panama-vp\" width=\"600\" height=\"400\" srcset=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/03\/Panama-vp.jpg 600w, https:\/\/panamaadvisoryinternationalgroup.com\/blog\/wp-content\/uploads\/2016\/03\/Panama-vp-300x200.jpg 300w\" sizes=\"auto, (max-width: 600px) 100vw, 600px\" \/><\/a><\/p>\n<div class=\"entry\">\n<p>Panama\u2019s vice president and foreign minister, Isabel de Saint Malo de Alvarado, has fuelled doubts over the viability of the Nicaragua Canal project, claiming further Panama Canal expansions would be more cost effective.<\/p>\n<p>Speaking at the London School of Economics, she said: \u201cWe could build a third, fourth, fifth expansion at a cost much much lower than it would cost to build a canal in Nicaragua.\u201d<\/p>\n<p>\u201cWorld trade is growing,\u201d she stated. \u201cWe are not concerned in Panama of the possibility of some competition. But if it happens, we are making sure we will remain competitive.\u201d<\/p>\n<p>In March 2015, Jorge Quijano, CEO of the Panama Canal Authority, told <em>Reuters<\/em> that a fourth set of locks could cost between US$16bn and US$17bn; meanwhile the Nicaragua Canal is widely expected to cost at least US$50bn.<\/p>\n<p>Asked by <strong><em>CM<\/em><\/strong> about whether plans existed for further works to enable the canal to handle ultra-large container vessels (ULCVs), Alvarado said: \u201cWe\u2019ve actually begun studies about a new expansion. Fortunately enough the canal has both a technical capacity and a financial capacity to undergo future changes if need be. But for now, I think we\u2019ll have more than enough in terms of what the expanded canal will offer.\u201d<\/p>\n<p>The expanded Panama Canal is scheduled to be inaugurated in June 2016, more than 18 months later than initially planned, following various difficulties including leakages of the new third locks.<\/p>\n<p>In mid-February 2016, Grupo Unidos por el Canal (GUPC), the consortium responsible for the design and construction of the canal\u2019s third set of locks, successfully completed testing of the reinforcements in the third sill of the Cocol\u00ed locks.<\/p>\n<p>Seepage had been detected in these locks in August 2015, forcing delays to the already-postponed opening of the expansion.<\/p>\n<p>At the event, Alvarado promoted Panama\u2019s attractiveness to foreign investment, stating: \u201cPanama was a global economy before globalisation was in fashion.\u201d<\/p>\n<p>&nbsp;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Panama\u2019s vice president and foreign minister, Isabel de Saint Malo de Alvarado, has fuelled doubts over the viability<\/p>\n","protected":false},"author":5,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-16057","post","type-post","status-publish","format-standard","hentry","category-news-articles-panama-perpsective"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.7 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Panama VP questions Nicaragua Canal cost effectiveness - Blog and Newsletter<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/panamaadvisoryinternationalgroup.com\/blog\/panama-vp-questions-nicaragua-canal-cost-effectiveness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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