Panama Canal
France began work on the canal in 1881, but stopped due to engineering problems and a high worker mortality rate. The United States took over the project in 1904 and opened the canal on August 15, 1914. One of the largest and most difficult engineering projects ever undertaken, the Panama Canal shortcut greatly reduced the time for ships to travel between the Atlantic and Pacific Oceans, enabling them to avoid the lengthy, hazardous Cape Horn route around the southernmost tip of South America via the Drake Passage or Strait of Magellan.
Panama Canal
It was announced in July 2009 that the Belgian dredging company Jan De Nul, together with a consortium of contractors consisting of the Spanish Sacyr Vallehermoso, the Italian Impregilo, and the Panamanian company Grupo Cusa, had been awarded the contract to build the six new locks for US$3.1 billion, which was one billion less than the next highest competing bid due to having a concrete budget 71 percent smaller than that of the next bidder and allotted roughly 25 percent less for steel to reinforce that concrete. The contract resulted in $100 million in dredging works over the next few years for the Belgian company and a great deal of work for its construction division. The design of the locks is a carbon copy of the Berendrecht Lock, which is 68 m wide and 500 m long, making it the largest lock in the world. Completed in 1989 by the Port of Antwerp, which De Nul helped build, the company still has engineers and specialists who were part of that project.