The Panama Canal Expansion is the largest project at the Canal
since its original construction. The project will create a new lane
of traffic along the Canal through the construction of a new set of
locks, doubling the waterway's capacity. The existing locks
allow the passage of vessels that can carry up to 5,000 TEUs. After
the expansion the Post-Panamax vessels will be able to transit
through the Canal, with up to 13,000 TEUs. The Expansion will
double the Canal's capacity, having a direct impact on
economies of scale and international maritime trade.
The Program consists of several components:
New Locks (Third Set of Locks)
Pacific Access Channel
Improvement of Navigational Channels
Improvements to Water Supply
The Panama Canal expansion is based on six years of research,
which included more than 100 studies on the economic feasibility,
market demand, environmental impact and other technical engineering
aspects. Works on the Panama Canal Expansion began on September
2007 at a total cost of US$5.2 billion.
The gates of the Cocoli gates are the largest in this locks
complex, and located at the lowest level, are required to open and
close withing a span of 4 to 5 minutes to meet the stablished
Is the first biggest project in the human history.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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Following an evaluation of Hong Kong in 2008, the Financial Action Task Force ("FATF")1 identified the following deficiencies in the Hong Kong anti-money laundering ("AML") and counter-terrorist financing ("CTF") regime
Enhanced and additional measures have been established and applied by the Central Bank of Cyprus through amendment of its directive on Prevention of Money Laundering and Terrorist Financing issued on 7 April 2016
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The Unit refers to the above matter and clarifies the following, in relation to the names of companies and natural persons, included in the above documents which have being published.
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