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Panama Canal expansion moves despite conflict

Monday, July 28, 2014

The Panama Canal Authority, or ACP, and the GUPC consortium tasked with expanding the interoceanic waterway, issued communiques saying that the project is moving forward despite the fact that the two entities have significant disagreements.

Both parties insist that they are putting every effort into ensuring that the project to build a third set of locks is finished by the end of 2015 and the Canal begins operating with them in the first quarter of 2016.

But the GUPC needs liquidity and ACP administrator Jorge Luis Quijano says that his group will not provide funds for the GUPC demands and the companies making it up "must continue to govern themselves in accord with the contract's dispute resolution mechanisms."

Source: Fox News Latino