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🇵🇾 Paraguay /Economy & Trade

Panama Canal Appoints First Woman Leader in Over a Century

From ABC Color · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

News Named sources New plan
  • Ylya Espino de Marotta will become the first woman to lead the Panama Canal Authority (ACP) in its over century-long history.
  • Espino de Marotta, an experienced engineer, previously oversaw the canal's 2016 expansion project.
  • The ACP plans to invest $8.5 billion in the next decade for new ports, a gas pipeline, and a reservoir to ensure water supply and transit capacity.

For the first time in its more than 100-year history, a woman will lead the strategic Panama Canal Authority (ACP). Engineer Ylya Espino de Marotta is set to take the helm in September, marking a significant milestone for the vital interoceanic waterway. Her appointment by the ACP's board of directors was announced by Panamanian President José Raúl Mulino.

Espino de Marotta brings extensive experience to the role, having previously led the canal's ambitious expansion project in 2016. This massive undertaking tripled the canal's capacity and required an investment exceeding $5 billion. With over 40 years dedicated to the canal, she currently serves as deputy administrator and will lead the ACP for a seven-year term, succeeding Ricaurte Vásquez.

I have spoken with the new administrator (...) to congratulate her and reaffirm the commitment to work coordinately on strategic projects that generate employment, prosperity, and progress for Panamanians.

· José Raúl MulinoPanamanian President José Raúl Mulino's statement after the announcement of Espino de Marotta's appointment.

President Mulino congratulated Espino de Marotta, reaffirming a commitment to collaborate on strategic projects aimed at fostering employment, prosperity, and progress for Panamanians. The ACP, an autonomous government entity, is crucial to global trade, facilitating passage for 5% of the world's maritime commerce.

Looking ahead, the ACP has outlined a significant investment plan of approximately $8.5 billion over the next decade. This includes the development of two new ports, a gas pipeline, and a reservoir designed to secure water resources and prevent future restrictions on ship transit due to drought. Espino de Marotta described this plan as the guiding strategy for the canal's future growth and operations.

I commit to continue doing the best for our country, supporting our clients, ensuring that future and that strategic planning we have so that Panama continues to grow.

· Ylya Espino de MarottaThe newly appointed administrator's remarks during a brief appearance.
About this summary

Originally published by ABC Color in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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