Panama Canal Expansion Project

The Panamanian congress has formally approved a $5 Billion plan to expand the Panama Canal. Many modern ships are too wide to go through the canal, and others are frequently gridlocked for hours.

The Panama government fears its income from tolls will fall if ship owners switch to alternative routes, says the BBC. However, some Panamanian unions oppose the building project, claiming more money should be spent on social development.

It will be the canal's biggest expansion since it opened by the United States in 1914. Before it is executed, the project must go to a binding referendum to be held on October 22nd, 2006. Here's a map of the Panama Canal.