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Expectation surrounds Panama Canal conflict

Tuesday, February 18, 2014

The almost two-week stall on the Panama Canal expansion is seen taking a major turn this week, as Tuesday is the deadline the Canal Authority set for a solution.

Canal administrador Jorge Quijano said last week an agreement was reached with the Spanish-led consortium GUPC, who is building the third set of locks, pending only an approval of $400 million in extra funding by managing firm Zurich.

Quijano said last week that the conflict is being resolved as Zurich is able to provide the necessary funding to finish the remaining 30 percent of the project.

Full story (in Spanish)