HomeWorldThe incredible new £3.3bn mega project that aims to rival the Panama...

The incredible new £3.3bn mega project that aims to rival the Panama Canal

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When the Panama Canal was opened in 1914, it heralded a new era in global trade and constituted a feat of engineering that was mind-blowing at the time.

It cost $375 million to construct from 1903 to its opening date, which would be around £11. billion in today’s money.

Today, a staggering six percent of global trade passes through the Central American passageway, however, its busiest year was 1970.

Although shipping remains an important cog in global trade, more than a third is down to air cargo.

Despite this, the Mexican government is in the process of reopening its Interoceanic Train of the Isthmus of Tehuantepec, a rail network that links up the Atlantic and Pacific Oceans just as the Panama Canal does.

The infrastructure project, which cost £3.3bn, has three lines – Line FA, Line K, and Line Z – the first and last of which are open to both passengers and freight. Line K is expected to be open in 2025.

The renovations allow trains to travel three times as fast as they did on the previous railroad.

The Mexican President said of the project: “Authorities, kings, politicians, and rulers have been dreaming of it for centuries… Since the Spanish invasion, Charles V asked Hernán Cortés to unite the two oceans.”

Meanwhile, Admiral Rafael Ojeda, head of the Navy, responsible for the project, highlighted the importance of the train for southern Mexico.

He said: “The Isthmus is reborn with the passenger railway and multimodal vocation that drives economic growth and comprehensive regional development, as established by the regional program.”

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