Major projects announcedfor Panama, Costa Rica and Venezuela

15 April 2008

Central/South America: Work on widening the Panama Canal will begin this year. In a referendum last October, Panamanians approved construction of a third set of locks at an estimated cost of $5.25 billion.

Asociacion de Carreteras y Cominos de Costa Rica, a Costa Rican construction trade group, presented a $3.7 billion investment plan to finance development of the country's road systems through concessions, loans and taxes over a period of 15 years.

China will provide $4 billion for the construction of a railway in Venezuela. As part of an investment fund between the two countries, Venezuela will contribute another $2 billion to the project.

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