Panama Canal Encounters New Delays

The Panama Canal Expansion could be hit with new delays due to the cracks that were found in one of the locks a few months ago, according to Reuters.

The consortium leading the project expects to finish repair work by mid-January, 2016; however, doubts still loom on the final completion date of repairing the cracks in the lock.

With the repair works taking place, the consortium said it is trying “to minimise the impact on the final handover, planned for April, 2016.”

PTI previously reported that the Panama Canal had encountered an enormous crack above one of the 16 rolling gates at the Cocoli Locks.

Watch a November update of the Panama Canal Expansion project

The Panama Canal Authority (ACP) recently said it was glad of the lock cracks and that the incident would not prevent the canal from opening in April, 2016.

The total completion cost of the project was set for more than US$5 billion; however, these costs have since risen as a result of the repair works.

The Panama Canal will be able to service up to 14,000 TEU ships, with the creation of a third lane of traffic when it is completed.

The ACP recently announced that it had received interest from around 11 global port operators, which will be competing to operate the Port of Corozal in Panama.