Panama Canal invests in the future
The Panama Canal Authority (ACP) stated that it will invest approximately USD 238 million in the maintenance of structures and equipment during its fiscal year 2014 (1 October 2013 - 30 September 2014). According to the ACP the funds will be used for areas of maintenance that include, but are not limited to, the navigation channel through dredging operations, the control of erosion and landslides, floating equipment such as tugboats, dredges, cranes and launches, the locks and their components and the dams, landfills, power plants, buildings and facilities.
About to reach its centennial, the Canal continues to invest in modernization of its infrastructure. Approximately USD 2 billion have been ploughed into the waterway since 2000.