Panama Canal Evaluates Creating an Energy Corridor, While the Indio River Project Advances

Census of communities in the Indio River registers 90% progress.  The administrator of the Panama Canal Authority, Ricaurte Vásquez, said that more than 1,200 property titles are pending approval. He indicated that one of the challenges is to maintain the sustainability of the route, which is why they are looking to develop new businesses, including an energy corridor, and that by 2025 it is estimated that $50 million will be allocated for the first steps such as the purchase of land.  This is for the communities that inhabit the Indio River area, where they hope to build the new water reservoir project for the interoceanic route. Ricaurte Vásquez, reported that this project seeks not only the sustainability of the interoceanic route, but also of the community that lives in the Canal basin and, in this case, the area of ​​the Indio River.

“There will be affected parties and they will have to be compensated correctly, so that important agreements can be reached,” he said.  This census, which began in the middle of this year, seeks to detail the number of people, families and settlements that exist; the economic activities they carry out and the needs of these communities, given that some of them will have to be relocated to other settlements due to the future construction of the water reservoir.  Maintaining the sustainability and continuity of the Panama Canal as a reliable route through which 3% to 5% of world trade passes requires facing several challenges, including guaranteeing the supply of water for the canal and for the population, in addition to diversifying businesses and adding new activities that can complement the portfolio of logistics and maritime activities with a view to generating greater profitability.