Panama Canal plans to build a reservoir to ensure water security

The Panama Canal expects to complete a billion-dollar construction of a new water reservoir within six years that will help ensure the passage of 36 ships a day, the administrator of the global waterway said on Monday.

Canal administrator Ricuarte estimated the project would cost around $1.2 billion, plus an additional $400 million in investments in neighboring communities. The Indio River reservoir project would become part of the network of existing artificial lakes that allow for safe passage through the canal and provide water for human consumption.