Proposal Panama Canal expansion referendum, 2006

the panama canal expansion proposal presented on april 24, 2006 president martín torrijos panamanian people after years of study acp. largest project @ canal since original construction, expansion double capacity , allow more traffic.

the project create new lane of traffic along canal through construction of new set of locks. details of project include following integrated components:

the construction of 2 lock complexes, 1 on atlantic side , on pacific side, each 3 chambers, include 3 water-saving basins;
the excavation of new access channels new locks , widening of existing navigational channels; and
the deepening of navigation channels , elevation of gatún lake s maximum operating level.

according acp, project have estimated cost of us$5.25 billion, self-financed tolls increase , take 7 or 8 years of construction time.

panama s cabinet approved project, , on july 14, national assembly unanimously approved proposal expand canal. in addition, assembly created , passed law mandating national referendum in people of panama vote approve expansion. referendum held on october 22, 2006, first sunday @ least 90 days after legislation signed.