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Panama Canal contractors still want $5.6 billion

Tuesday, May 2, 2017

The European consortium Grupo Unidos por el Canal (GUPC), that built the third set of locks for the Panama Canal expansion, has not given up on trying to gain extra payment for the over cost, over time project.

GUPC has requested an arbitrator to make a decision on four claims totaling $ 5.6 billion without going through the second step of the conflict resolution process. That process would give the arbitration board more information about the claims, according to the Canal Authority.

Source: Newsroom Panama