The Panama Canal is set to launch a competitive tender for two new ports in its zone, part of a broad expansion plan to enhance cargo handling and secure fresh water. The waterway plans to invest $8.5 billion in infrastructure updates over the next five years, including a dam project facing legal challenges.

A new project to build a liquefied petroleum gas pipeline within the canal zone is in the works. U.S. President Trump previously threatened to take over the canal amid concerns over Chinese influence. Panama’s President moved to end a concession to CK Hutchison for two key ports, as the company looks to sell its global port business.

CK Hutchison’s $22.8 billion deal to sell its port business, including the Panama ports, to a group led by BlackRock and MSC is likely to proceed. The Panama Canal Authority did not comment on the upcoming tenders, but preparations are underway for the new projects to enhance operations and infrastructure.

Read more at Yahoo Finance: Panama Canal to launch tender for construction, operation of two ports, source says