07 August 2016
On June 26, the Panama Canal expansion was completed and re-opened during a festive ceremony. Together with Antea Group and Croonenburo5, Stig developed a commercial plan for an area of 1,200 hectares, located on the West Bank at the Pacific side of the Canal.
Panama wants to become a logistical hub. By maximizing its land value and providing a road map to develop it into a world-class economic area that exploits the comparative advantages of its strategic location at the Canal’s entrance, the development ensured optimum commercial use of the area. Central to StigΔ’s plan for developing the West Bank was the return of transshipment, which took place in the Canal in earlier years. StigΔ suggested developing value added logistics and industrial activities.
The expansion has been in development since 2007, and was completed with a two year delay. The expansion ensures the throughput of 1,7 billion cubic meters for cargo from the Atlantic Ocean to the Pacific Ocean, and vice versa. The container throughput has also increased: the new Panamax ships can carry up to 13,000 containers as opposed to 5,000 containers.