The Panama Balboa Port is home to the PPC (Panama Ports Company), which is part of a huge conglomerate named Hutchinson Whampoa, based out of Hong-Kong. This company is ready for a great investment in expansion and renewal of its port and equipment said to take place in 2015, with a budget of $110,000,000.00 Dollars.
Aitor Ibarreche, Hutchison Whampoa's CEO made this announcement and said the investment will boost its capacity by 11% up to 5M TEU ( twenty-foot equivalent unit) by adding loading and unloading spaces. Also the Pacific Port's crane zone with now be wired and using electricity instead of burning fuel, a great plus for saving on the long run.
There is no doubt that this investment and expansion is designed so that the port can be ready for the new locks of the Canal expansion. This project is said to be delivered by early 2016, and so will this expansion. Since the Balboa Port is #45 largest in the world, also Panama's 2nd largest one, it makes sense to improve and justify such an investment.