NU Online News Service, Aug. 19, 3:05 p.m. EDT

Zurich in North America's Surety, Credit and Political Risk group said it will provide a surety bond for the consortium responsible for construction to expand the Panama Canal.

The project, estimated at $5.25 billion, involves the building of three locks parallel to the older, existing locks, to allow for today's larger ships, Zurich said. The new locks will have a length of 1,400 feet, a width of 180 feet and a depth of 60 feet, as compared to the old locks which were 965-foot length, 110-foot width and 42-foot depth.

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