Panama's President Laurentino Cortizo Thursday welcomed the 21st anniversary of the handing over by the U.S. of the administrations' right of the Panama Canal.
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"Twenty-one years ago we made a dream come true: the transfer of the Canal into Panamanian hands. Today, we continue to demonstrate to the world the ability to maintain an efficient administration," Cortizo twitted.
Panama Canal Administration (ACP) authorities announced that the Canal will offer a 50-foot draught in 2021, which represents four feet deep more than those offered in 2019 and the highest level allowed in the neo-Panamax locks.
"Despite facing new challenges in 2020, we maintained our commitment to continue creating and delivering value to our customers and to Panama," said ACP director Ricaurte Vasquez.
On December 17, Vasquez delivered a US$1.8-billion check to Cortizo as a result of financial surplus and other income reported by the ACP in order to support the response to the COVID-19 pandemic.
In accordance with the 1977 Torrijos-Carter Treaties, Panama assumed total control over the operation and administration of the Canal, as well as of its surrounding areas on December 31, 1999.
Construction works have been conducted in order to expand the Canal's capacities such as an extension inaugurated in June 2016.
Last year, the ACP also inaugurated the Atlantic Bridge, which now holds the world record as the four-lane concrete cable-stayed bridge with the longest visible span at 530 meters.
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