- The Panama Canal Expansion referendum was held on October 22, 2006 where Panamanian people approved the expansion proposal that is expected to be completed by 2014. On September 3, 2007 before the eyes of thousands of Panamanians the project was officially started. 

- The cost to construct the new third set of locks is estimated at approximately USD $5.25 billion. The project consists of adding a third lane through the construction of two locks complexes at each end of the Canal, one on the Pacific side and the other on the Atlantic side. Each of these new lock complexes will have three consecutive chambers and each chamber will have three lateral water-saving basins. According to the plan, a 6.1 km-long access channel will be excavated to connect the new Pacific-side lock with the Gallard Cut.

- The expansion of the route has caused optimism throughout different sectors as this project will not only benefit world trade but will also improve the capacity to generate jobs and richness in Panama. Approximately 35,000 to 40,000 new jobs will be created during the construction of the third set of locks including additional jobs that will be directly related to the following services and activities:

Port activities, railroad and ship companies, supplying fuel to vessels, Colon Free Zone activities, tourism operators, land transport and intermodal services, shipyards, airports, merchant fleet, legal and financing services, insurances, telecommunications.   

The canal expansion is expected to cause an increase in investment of 40% by 2025.

- With the canal expansion, Panama will have a Gross Domestic Product of USD 3.170 billion by 2025. This represents almost 2.5 times the country’s GDP in 2005 and equals an annual growth rate of 5% for the next 20 years. 

- Since noon December 31, 1999 Panama has had full authority and control of the Canal. The expansion of the Canal that accounts for 5.0% of the world’s trade transit means more income for the country, and during these first eight years of national management, the Canal’s figures have showed steady records both in the transit of vessels and cargo.