The Panama Canal Authority (ACP) has announced modernisations, valued at $320m, to upgrade the canal.

The expansion includes an improved lighting system in the canal’s locks and a new track and turntable system.

Other upgrades include the acquisition of five tugboats, an additional tie-up station and the replacement and reconstruction of the ACP’s launch fleet.

The modernisation will allow two additional transits per day to enhance the safety, reliability and efficiency of the canal, the ACP said.