2. PANAMA CANAL
• The Panama Canal is one of the largest infrastructure built by man and is very important for maritime trade.
Built between 1904 and 1914 by the United States since 2000 is managed by the Panamanian government.
• Already in 1516, when Nunez de Balboa crossed the Isthmus of Panama and discovered the small distance
between the Atlantic and Pacific oceans began to think about creating a waterway to cross that road. Studies
at the time determined the technical impossibility of doing, and all was building a land route that was used
to transfer the mineral resources of Peru eastward to ship them to Europe.
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4. Finally, it was the United States who took to the adventure. In return, through the Hay-Bunau-Varilla,
Panama gave the United States sovereignty over the future path of the Canal.
So the work of building the infrastructure, which took place between major difficulties since that started
the work - to 45,000 people came to work simultaneously on it and disease from 1904 until its
completion in 1914.
The Panama Canal cost Americans approximately $ 375,000,000, including $ 10,000,000 paid to
Panama and the $ 40,000,000 paid to the French company, thus becoming the most expensive project
undertaken by the country to date.
5. In 1977, the Torrijos-Carter treaties, by which the return was raised in 2000 for
the sovereignty of the Canal to the Panamanians were signed. During the 20
years of transition, the canal was operated by the Panama Canal Commission, a
government agency of the United States. The December 31, 1999 was finally
transferred sovereignty, and since then the channel is operated by the
Panamanian authorities.
6. The idea of expanding the Panama Canal to accommodate larger ships, the
famous post-Panamax Panama Canal must be modernized to accept larger
tonnage vessels. The project of the Panama Canal Expansion officially began on
September 3, 2007.
