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| Panama Canal expansion under way | |
| (about 13 hours later) | |
| Panama has started work on a $5bn (£2.4bn) building project to widen the Panama Canal to increase its capacity. | Panama has started work on a $5bn (£2.4bn) building project to widen the Panama Canal to increase its capacity. |
| The historic scheme was launched by Panama's president at a colourful ceremony featuring explosions and the release of thousands of balloons. | The historic scheme was launched by Panama's president at a colourful ceremony featuring explosions and the release of thousands of balloons. |
| Panamanians overwhelmingly backed the plan in a referendum held in 2006. | Panamanians overwhelmingly backed the plan in a referendum held in 2006. |
| Many tankers are now too large for the 50-mile (80km) route and supporters say the modernisation is vital to maintain trade and will create 7,000 jobs. | Many tankers are now too large for the 50-mile (80km) route and supporters say the modernisation is vital to maintain trade and will create 7,000 jobs. |
| But opponents have attacked the project, due to be completed by 2014, arguing that it will damage the environment and widen the gap between rich and poor in the country. | But opponents have attacked the project, due to be completed by 2014, arguing that it will damage the environment and widen the gap between rich and poor in the country. |
| See the route of the Panama Canal | |
| It is estimated that, in volume terms, around 5% of the world's trade passes through the Panama Canal. | It is estimated that, in volume terms, around 5% of the world's trade passes through the Panama Canal. |
| Foreign dignitaries including Jimmy Carter were present | Foreign dignitaries including Jimmy Carter were present |
| The government has said the scheme will be financed by raising tolls on the waterway as well as through foreign credit. | The government has said the scheme will be financed by raising tolls on the waterway as well as through foreign credit. |
| It will involve adding a third set of locks that will enable modern ships to use the canal. | It will involve adding a third set of locks that will enable modern ships to use the canal. |
| Before a crowd of leading businessmen and foreign dignitaries, President Martin Torrijos said it was a historic day for the Panamanian people. | Before a crowd of leading businessmen and foreign dignitaries, President Martin Torrijos said it was a historic day for the Panamanian people. |
| "We are witnesses to an exceptional and unique act," he said. "In 30 years, Panamanians will remember this day and about the right decision this generation made." | "We are witnesses to an exceptional and unique act," he said. "In 30 years, Panamanians will remember this day and about the right decision this generation made." |
| The US ceded control of the canal, which it built in the early 20th Century, in 1999. | The US ceded control of the canal, which it built in the early 20th Century, in 1999. |
| Former US President Jimmy Carter, who signed an agreement in 1977 paving the way for Panama to take control of the waterway, said he was "proud" of the expansion plans. | Former US President Jimmy Carter, who signed an agreement in 1977 paving the way for Panama to take control of the waterway, said he was "proud" of the expansion plans. |
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