The canal authority has earmarked $8.5 billion for capital investments, and a large chunk of that is intended for decarbonization initiatives, outpacing the massive investment made in previous groundbreaking expansion of the waterway.
“We plan to embed sustainability into capital investments worth over $8.5 billion in the next five years, surpassing the $5.4 billion required by the Panama Canal Expansion Program,” the canal authority said.
The canal, a global maritime artery, underwent a historic expansion with the introduction of new locks in 2016, a colossal effort to accommodate larger vessels and increase overall transit capacity.
