The Panama Canal plans to invest $ 32 billion in projects in the next decade

The investment plan includes the execution of the decarbonization program in operations, water projects, digital transformation, and others.

 

A portfolio of investments and projects for about $ 32,000 million will execute the Panama Canal during the next decade. The investment will allow the Canal to strengthen the long-term sustainability of the business, improve its competitiveness and contribute to the economic growth of the country, said the inter-oceanic route in a publication by El Faro. The investment plan includes the execution of the decarbonization program in operations, water projects, digital transformation through the incorporation of new information technologies that allow streamlining processes.

 

To achieve carbon neutrality in its operations through concrete actions, the Canal estimates it will allocate between $ 500 million and $ 1.5 billion over the next decade. The investment includes plans for the generation of renewable energy, minimizing the carbon footprint in its facilities, efficient management of the forested areas of the hydrographic basin, and migrating its fleet of cars to electric vehicles and floating equipment to hybrid sources. He reported that he is also carrying out a water program for which he estimates an investment of $ 1,900 million until its entry into operation in 2028.

 

While in digital transformation it is planned to invest $ 500 million in projects that incorporate technologies, information and data management to maximize the capacity of the current Canal plant.

 

The replacement of equipment such as tugboats and modernization of facilities such as the Canal water treatment plants and dams are also planned, for which it is expected to invest $ 2.4 billion.

 

Until 2030, the Canal plans to allocate some $ 2,800 million to the regular maintenance of its plant, taking into account that the Panamax locks will fulfill more than 110 years of operation during the next decade.

 

The investments include the dredging of the navigation channels, the maintenance of the floating and rolling equipment, as well as the electrical systems that power the operation. In turn, the Canal's goal is to provide direct contributions to the National Treasury for an approximate amount of $ 21,500 million, in the next 10 years. During the first 20 years of Panamanian administration, the Canal contributed $ 18,642 million.

 

The investment plan for the next decade also includes $ 2.2 billion to cover financing, mainly, of the expanded Canal.

 

In five years of operations, thanks to the investment in the new locks, the Canal's revenues have increased from $ 2.5 billion in 2016, to approximately $ 4 billion in 2021. As part of its long-term vision, the Panama Canal will implement a strategy more dynamic pricing, ensuring that your service generates added value for your customers.

 

The legal framework and the management model of the interoceanic highway guarantee the profitability of this asset, as well as the direct and indirect contributions for the benefit of the economic development of the country.

 

 

Source: La Estrella