The Annual Authorization for the Panama Canal Commission And the Annual Authoriz
The Annual Authorization for the Panama Canal Commission And the Annual Authoriz
Zat00
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AT THE REQUEST OF PRESIDENT BALLADARES, HOWEVER, THE COMMISSION'S BINATIONAL BOARD UNANIMOUSLY VOTED TO REINVEST $8 MILLION IN THE COMMISSION'S CAPITAL PROGRAM THIS DEMONSTRATES PANAMA'S LONG-TERM COMMITMENT TO THE CANAL'S FUTURE THE CANAL WILL REMAIN ATTRACTIVE AND ECONOMICAL TO WORLD SHIPPING WELL INTO THE NEXT CENTURY. Statement of the Chairman. Fiscal Year 1997 Authorization Hearing Page 10 March 5, 1996 53 THE BOARD HAS COMMISSIONED A COMPREHENSIVE EXAMINATION OF THE CANAL'S INFRASTRUCTURE... AND OPTIONS FOR THE MOST EFFECTIVE CAPITAL INVESTMENTS, AND UNANIMOUSLY APPROVED A CONTRACT AWARD TO THE ARMY CORPS OF ENGINEERS TO ASSESS THE PANAMA CANAL'S MAINTENANCE AND CAPITAL INVESTMENT PROGRAMS FOR MAJOR INFRASTRUCTURE FEATURES, EQUIPMENT AND OPERATIONS A PRELIMINARY DRAFT REPORT IS DUE BY JUNE 15, 1996. THE BOARD IS ALSO EXAMINING HOW TO BEST SOLIDIFY AND EXPAND THE CANAL'S BUSINESS BASE BY UNDERTAKING A "GROWTH STRATEGY" STUDY. THIS STUDY WILL EXPLORE POTENTIAL OPPORTUNITIES TO USE THE CANAL'S ASSETS TO ADD AREAS OF REVENUE-PRODUCING ACTIVITY BOTH IN CORE AND NON-CORE BUSINESS ACTIVITIES.
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