Threatened by climate change, Panama Canal has big plans to deal with drought

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The story "Threatened by climate change, Panama Canal has big plans to deal with drought" was covered 2 days ago by Economic Times, a news publisher based in India.

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Economic Times Logo Economic Times 2d ago

Threatened by climate change, Panama Canal has big plans to deal with drought - Economic Times

Quick Summary:

The Panama Canal Authority aims to create a massive dam 840 meters in length and 80.5 meters in height to secure freshwater for its locks.

It says the reservoir's 1.25 billion cubic meters of water would allow up to 15 additional vessel transits per day during the dry season, and help provide drinking water to Panama's growing 4.5 million population.

Cesar Petit, senior economist at BancTrust & Co, an investment bank specialising in emerging markets, said there was political consensus in Panama behind the dam project but the government would need to establish a credible plan for compensating people who will be displaced and affected in nearby areas.