IN THE NEWS ALONG THE ROUTE: PANAMA CANAL TO EXPAND
WATER RESERVOIR TO MANAGE TRANSITS RELIABLY INTO THE FUTURE
Over the years the Panama Canal has had to restrict transits in times of drought and struggled to maintain steady flow of commercial and recreational traffic across the isthmus.ย While 2023 did not see a decrease in revenue, This decrease in overall daily transits is particularly worrisome for the prospect of maintaining the canal’s vital role in global trade and Panama’s economy.ย The stinking point is all about fresh water.ย The lochs depend upon freshwater and in times of draught as the amount of water available to flush through the lochs decreases, so too must the number of boats moving though decrease.ย Recently, however, Panamanian authorities approved a watershed expansion project that experts say will “Solve its Water Woes”.ย The expansion project has been under consideration for over two decades.ย While it is massive in scale, capitol requirements, and repercussions Panamanian authorities believe it is the best path forward.
THE PLAN:
- Dam the Indio River and add a new reservoir that will divert freshwater to Lake Gatun and provide freshwater for human consumption.
THE TIMEFRAME:
- Current assessment: 6 years
THE CAPITAL INVESTMET
- $1.2-$2 billion including $400million relocation and in investments in neighboring communities
THE GOAL:
- According to canal administrator, Ricaurte Vasquez, the project “would provide a little more certainty to maintain 36 transits per day, a higher level of reliability for the route.”
Read more about the recent watershed expansion approval here
