Displaying items by tag: ATLANTIC OCEAN

  The brand new Panama Canal is almost ready (it has been reached almost 90% of the works).

The construction of the third navigational flow and of the set of locks, in addition to ensure the transit of 
Post Panamax  ships, will facilitate traffic throughout Isthmus allowing on one hand, to have a daily transit 
up to 12-14 ships , on the other hand, the increase in the value goods transported up to $ 1 billion per 
day. 

Works for the expansion of the Panama Canal by GUPC (Grupo Unidos por el Canal ) have started again. The GUPC, a consortium, is led by the Spanish company Sacyr and in which we also find the Italian Salini-Impregilo.

The construction works had been stopped before due to the breach of negotiations on the additional costs of 1,6 billion dollars (a price equal to half of the commission value of 3,3 billion dollars), but after several negotiations and the Consortium threat of suspending works if the Panamanian authorities had failed to provide the additional funds necessary to the conclusion of the Canal, Panama Canal Authority and the consortium GUPC have reached a partial agreement.

The Ortega government of Nicaragua approved the realization of an "alternative route" of transit between the Caribbean Sea and the Pacific Ocean less than 300 km from Panama. 

The project is worth 30 billion Euros and is going to be built by HK Nicaragua Canal Development Investment co, one of the many giants in Chinese fee that, in exchange for a concession of 50 years on the toll ( contract that can be renewable for another 50 years) and the use of the channel, will be in charge of the construction.