LatinNews Daily - 24 February 2025

*The board of directors of the Panama Canal Authority (ACP) has approved a resolution authorising the necessary resources for the construction of a new reservoir in the Indio River basin. An ACP press release states that the project is part of an initiative “to guarantee water supply for over 50% of the country’s population, nearby communities and Canal operations” serving as “a safety measure against future droughts, such as those experienced during 2023-2024.” This follows a July 2024 supreme court (CSJ) ruling which struck down a 2006 regulation prohibiting the waterway from expansion outside its traditional watershed. At the time ACP administrator Ricaurte Vásquez said the initiative would require the acceptance of inhabitants of the new site around the Indio River basin which spans a total of 580km² and is home to over 12,400 people living in some 231 villages. The latest ACP press release states that the resolution “includes fund allocation for compensation, resettlement, and support for families and property owners who may be affected”, related to which a census was initiated in August 2024 to survey all families living in the area, which is set to be completed by 30 April 2025. It adds the reservoir, which will take approximately six years to construct, will “become one of the decade’s most significant public investments”. It does not specify a figure regarding the investment but back in July, Vásquez was cited by Spanish newswire EFE as saying the cost of constructing a new reservoir would be in excess of US$1.2bn while the costs related to sustainability and attention to communities amounted to some US$400m.

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