The Panama Canal expansion and the construction of the Coastal Line in the Bay of Panama City will strongly contribute to the economic and political growth, also to support the cultural and social development in Panama.
The Minister of the Public Works, Benjamin Colamarco considers that this project will improve the quality of life of all the habitants of Panama City and will be ready by April 2009. Therefore, this mega projects and others situate Panama as one the most growing countries in the region, especially in the real estate sector.
The Coastal Lane will extend from the mouth of Matasnillo River in the Balboa Avenue to the Seafood Market. These four tracks will have one way towards Punta Paitilla, and the six existing lanes towards the Old Quarter, in San Felipe. The city will now have 25 hectares of green areas with palms and trees, also with sports facilities in front of the ocean; special avenues for bicycles and jogging, water fountains and relaxation areas will be built. The total project will have seven kilometers of extension and total area of 30 hectares.
This project will solve the traffic problems in the city and will also help in the much needed cleaning project of the Bay of Panama. Once the project is completed there will be two thousand free public parking spaces and five pedestrian steps for handicapped people.
The Panama Canal expansion constitutes the starting point to strengthen the economic impulse, the international financial market, the investment opportunities within a context of globalization that industrialized countries promote. This mega project will be ready by the year 2014.
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