PANAMA CITY, Panama (AP) -- Voters overwhelmingly approved the largest modernization plan in the 92-year history of the Panama Canal on Sunday, backing a multi-billion dollar expansion that will allow the world's largest ships to squeeze through the shortcut between the seas.About 79 percent of Panamanians voted in favor the expansion with 42 percent of 4,416 polling stations reporting, according to preliminary results released by the country's electoral tribunal. Nearly 21 percent opposed the plan. There were not enough ballots remaining to be counted reverse the trend. Early returns pointed to a dismally low turnout with nearly 60 percent of the country's more than 2.1 million voters abstaining. Thousands of supporters in green ''Yes'' T-shirts cast ballots endorsing the $5.25 billion overhaul which would allow the canal to handle modern container ships, cruise liners and tankers that are too large for its current 108-foot-wide locks. The plan is to build a third set of locks on the Pacific and Atlantic ends by 2015. The Panama Canal Authority, the...
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- Offshore IBC - An Offshore Panama IBC is an International Business Corporation incorporated in Panama and are eligible to conduct business around the world as well as inside of Panama. Learn more about the uses of an offshore company...
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