The contractor consortium building the Panama Canal's expansion says the project has reached "functional completion".

Grupo Unidos por el Canal (GUPC) said the third set of locks is ready to operate, according to local press reports.

"The project is ready to receive the first ship, demonstrating that it works to perfection," said operations director Giuseppe Quarta, according to Panama America.

"Test results confirm that we have a world-class system," he added.

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