Panama-Development of Canal put on hold.

PANAMA.

DEVELOPMENT ON HOLD.

The US$5.25 billion extension of the Panama Canal that was to start in December, has been put on the back burner until March 2009.

The new locks in the canal, are to enable the new large super-ships to be able to navigate the waterway, currently the new large container ships cannot navigate the locks.

The recent economic global downturn, has made the operators of the canal nervous, towards an investment of this size.