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Worth $5.2 billion with estimated completion on 2012, the Panamian government needs more than 500 units of construction equipment to excavate 123 million cubic meters of material for the Panama Canal to let 3,000 large ships (92% of the world's shipping fleet) to get through its passage.
A marvel of engineering in its time, today’s Panama Canal is too narrow to fit 92 percent of the world’s shipping fleet through its passage. But in the fall of 2007, the Panama Canal will soon be equipped with the world’s biggest locks, capable of handling most shipping vessels that are over Panamax size. Also, by adding a wider, deeper, and longer third lock lane to the existing two, the project will more than double the canal’s current effective capacity of 15,000 transits per year.
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