| Panama Awards Excavation Contract to a joint Venture |
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The project includes excavating 26 million cubic meters of unclassified excavation, installing a backfilled cellular cofferdam water barrier and building an earth-rock filled dam that will create part of the access channel’s eastern bank. The $5.25 billion Panama Canal expansion project, scheduled for completion in 2014, is one of the biggest infrastructure megaprojects in Latin America. It will build a new lane of traffic along the canal through the new locks, doubling the canal's capacity and allowing passage for longer and wider ships.
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The Panama Canal Authority awarded the fourth and final contract to FCC-ICA-MECO, a joint venture between Spanish, Mexican and Puerto Rican engineering companies.