Port and terminal operators and similar firms involved inmaritime industries are among those expected to pursue the one-timeUS naval installation, says John Carver of Colliers, executivedirector for the multimodal services division. "Furthermore," headds, "the Isla Margarita has more than 2,000 meters of pristinecoastline offering the potential for other forms of development,such as beachfront hotel, restaurants, retail orentertainment."

That multi-faceted vision certainly seems light years removedfrom the godforsaken, mosquito-infested quagmire through which thecanal was forged a mere century ago, although Panama CanalAuthority chairman Ricaurte Vasquez stresses that the waterwayitself serves a far different level of ocean vessel than ever couldhave been imagined at the outset. "With an increase in ship sizeand the volume of cargo traffic, the existing canal has nearlyreached capacity," says Vasquez, prompting the authority to approvea $5.3-billion enterprise last year that will create another lanefor traffic entering and exiting the canal.

The expansion should further enhance interest in Isla Margarita,Carver maintains, giving marine operations an abutting base fromwhich to service the new growth. International trading companiesseeking to operate within the nearby Colon Free Trade Zone areanother source of business who might utilize the Isla Margarita,suggests Carver, a notion backed by Mario Hoyte, secretary generalof the Colon Free Trade Zone, which is the second largest of itskind in the world.