Introduction To NLP

Built in the 1800s, the Panama Canal is a ship canal constructed to improve maritime trade. It bridges the Pacific and Atlantic oceans in order to shorten the distance cargo ships need travel. While this is typically a good thing for business, it may now be getting better as a new project aimed at expanding the canal has been proposed by the Panama Canal Authority.

This expansion is also going by the name of the Third Set of Locks Project. Its aim is to construct a pair of lock complexes with one at each of its ends. These complexes are aimed at water preservation, something which had been a concern in the past relating to the continued use of the canal. The project would also aim at constructing new access channels as well as widening the channels that already exist. Lastly a goal of the project is to deepen the aforementioned channels as well.

The work of expanding the canal is classified as a mega project. This means its construction and completion could deeply impact both nearby communities as well as the environment. Not only that, but it is also expected to cost more than one billion US dollars. A great deal of public attention has been drawn to the project as a result of its scope.

Having started in September 2007, it is expected that the project will be completed by 2015. This is likely a result of the many organizations and individuals that were in favor of it. This was likely due to the canal expansion’s potential benefits which would affect both the country itself and those who traverse it. For example, the project is supposed to pay for itself in time as well as bring a substantial return on investment.

Some other benefits expected to be brought about by the canal expansion include the reduction in poverty around the country. This is due to the expected rise in demand for work being done on and in relation to the expansion project. Some figures have put this reduction in poverty at around 30%. Naturally it is also expected that with improved channels and an additional lane of traffic there will be increases in toll revenues.

For those who have investments within the shipping industry as or trade that goes on throughout the canal this can mean big profits as well. The increase in capacity for cargo ships will likely make for more revenue. This increase in return can directly impact not only traders and businessmen but the country of Panama itself. With these propose financial benefits, however, there is still a question of the environmental effects of the canal expansion.

Those spearheading the project believe that the expansion will not do any significant or lasting damage to the environment. The areas in which the expansion is proposed to take place are currently controlled by the Panama Canal Authority itself. This means that it is their own buildings or work areas which will be affected, which suggests that no communities will need to be moved or harmed. It is also a point of the project to mitigate the expansion’s environmental impact by installing the lock system mentioned before.

As stated previously it is expected that this project will be concluded by the year 2015. With its completion it is expected that there will be new prosperity within the country of Panama. Time will tell and many will be watching this project closely.

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