Video: Panama Canal Expansion Program Update - October 2014

By Curious

Panama Canal has posted the latest update on their Expansion Program.

According to the official website of the Panama Canal Expansion Program, the overall progress currently is 80 %. The progress of the Pacific Access Channel is 80 %, the Design and Construction of the Third Set of Locks is at 77 %, Gatun Lake and Culebra Cut Dredging is at 88% and the Raising Gatun Lake's Maximum Operating Level has reached 93 % progress.

On Thursday, the administrator of the waterway, Jorge Quijano, said the construction could stretch beyond the $5.25-bn budget after a dispute over cost overruns delayed the project earlier this year.

"We're still within the budget of $5.25 billion, but if there were a verdict against us we would definitely go over," he said.

Video: Panama Canal Expansion Program Update - October 2014