In a press release, ACP said that recent actions, including the reinstatement of Law 44 by Panama’s Supreme Court, emphasise the importance of the canal’s plans to protect water resources and improve the lives of local communities.
According to ACP, the Supreme Court’s decision to reinstate Law 44 of August 31, 1999, which defines the boundaries of the Panama Canal Watershed, has reemphasized the importance of safeguarding the region’s water sources.
This law supports the ACP’s ongoing efforts to ensure sustainable development while respecting the rights of those who live within the watershed area. The law also confirms that the territory remains the property of its current occupants, regardless of whether they hold formal property titles or possession rights.
The ACP has highlighted the critical need to ensure a reliable drinking water supply for Panama’s population. Recognizing the country’s heavy reliance on rainfall, the Canal’s Administrator, Ricaurte Vásquez Morales, emphasised the necessity of increasing water storage capacity to meet the demands of both the canal’s operations and the growing population.
The canal’s operations, including the use of the third set of locks, have utilised water volumes that were anticipated for such purposes, yet the continuous rise in population has escalated water consumption.
In response to this challenge, the ACP has identified the construction of a multipurpose reservoir in the Indio River basin as the most feasible solution. This reservoir, a man-made project, aims to secure Panama’s water needs for the next 50 years while simultaneously improving the living conditions of nearby communities. The ACP has committed to addressing the concerns and needs of these communities before moving forward with the project.
The sustainability of the Panama Canal is also deeply rooted in its maintenance practices. The century-old locks, which have facilitated global trade since the inaugural transit of the SS Ancon, continue to operate effectively thanks to a comprehensive, multi-year maintenance program. Over the past five years, the ACP has invested more than B/.2,000 million in maintaining the canal’s infrastructure, including its locks, dams, and navigation channels.
Looking ahead, the ACP has allocated more than B/.500 million in its 2024 fiscal year budget for the upkeep of both the traditional panamax locks and the modern neopanamax locks. Additionally, the canal authority conducts thorough evaluations of its infrastructure to determine the short, medium, and long-term maintenance needs, ensuring the continued functionality and reliability of this critical global trade route.