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Contractors underbid Panama Canal project

Thursday, April 23, 2015

There’s been a hitch in the expansion of the Panama Canal. The contractos have filed claims totaling more than a half billion dollars against the Panama Canal Authority, alleging that misinformation led to cost overruns.

But a US academic who has worked closely with the Panamanians for more than a quarter-century, says the real problem is that contractors knowingly underbid the job.

Source: Fortune