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Panama authorities propose Canal row solution

Wednesday, January 8, 2014

The Panama Canal Authority said it wants to end a standoff over the expansion of the canal by splitting construction costs with Grupo Unidos por el Canal, GUPC, the consortium working on the project.

The authority said it would pay $183 million and GUPC would put in $100 million to continue work for at least two more months while a long-term solution is negotiated.

The Spanish-led consortium would have to withdraw its threat to halt work on the canal by January 20.

Source: Washington Post