You are here :: Panama Real Estate » About-panama » Panama-canal-expansion-3

The construction of the Panama Canal at the beginning of the 20th century is considered one of the world’s engineering marvels. At the Miraflores Locks you can see old black and white photos of those days. Today’s Panama Canal Expansion is being documented with streaming video which you can watch on the internet.

An October 1, 2008 press release by ViewCast of Plano, Texas touts the streaming video used to observe and document the Panama Canal Expansion Project. According to ViewCast’s press release, “The ACP has chosen ViewCast's Niagara(R) 7224 video encoding system to enable Web streaming of a wide variety of live and on-demand programming related to the expansion project, and to provide training for the ACP's 9,000-plus employees.

"Technology has come a long way since the building of the original canal, when we were only left with still photography and a small amount of film footage to document the [building of the Panama Canal]," said Edwin Reina, chief information officer for the ACP. "Thanks to the advanced streaming [video] technology provided by ViewCast, we'll be able to deliver a wealth of content to our Web site to keep the public updated on the progress of the project, and to ensure that this monumental and historical event is recorded for posterity."

ACP already uses ViewCast for its video cameras at the Panama Canal’s locks. This system records pictures every ten seconds and can be viewed live at the ACP website.

In addition to using the video cameras for security and documentation the Panama Canal Authority intends to use the videos to enhance employee training.

The Panama Canal Expansion

The Panama Canal Expansion is a $5 Billion (US Dollar), ten year project to double the capacity of the Panama Canal. The Panama Canal is the system of man made channels, locks, dams, and artificial lakes that connect the Pacific Ocean to the Atlantic Ocean across the Isthmus of Panama. Since its completion in 1914 the Panama Canal has allowed shipping to cross the fifty mile wide isthmus at the narrowest part of the Americas. The Panama Canal locks allow ships to enter the system from either ocean and to be raised to the level of artificial Lake Gatun, 26 meters above sea level, to transit central Panama before being lowered to sea level on the other side.

Panama Canal Expansion and Panama Real Estate Investment

Panama is in the midst of an economic boom. Because of Panama’s strong banking system, unique position in world trade, and high rate of foreign investment Panama is likely to weather most economic storms. Panama real estate investment has done well in the last years and Panama real estate investment will likely continue to appreciate for years to come.

The Panama Canal Expansion project is just one of many in the works and on the drawing boards that will ensure the stability and growth of Panama real estate values and return of investment for years to come. From Panama Canal and port expansion to a possible oil refinery on the Pacific Coast Panama investment keeps coming, providing jobs, and further stimulating Panama’s economy.

f you are interested in investment in Panama, real estate in Panama, or just renting a condo on the Pacific come to see us at ABPanama. We have over 23 years experience managing real estate portfolios and would be pleased to serve you.