15. Project to Expand the Panama Canal
Location: Panama
Total Cost: $5.25 Billion*
Year Finished: 2016
By widening and deepening the locks and lanes and creating a new traffic lane to accommodate larger ships, the Panama Canal extension project increased the canal’s capacity.
Panama Canal ©Shutterstock/Kopylovk
The Panama Canal Expansion Project also required the use of larger, more modern vessels known as New Panamax, which were capable of carrying twice as much cargo. With a staggering $5.25 billion in costs, the project was not a minor one! The extended canal, which was formally proposed on April 24, 2006, began commercial operations on June 26, 2016.
zi ang