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Panama Canal expansion works face stoppage

Thursday, January 2, 2014

GUPC, the firm in charge of the Panama Canal expansion, has announced it will suspend the project, citing budget restrictions.

The company told the Panama port authority, APC, that the costs agreed on at the start of the project are too low, and is seeking to negotiate a $1.6 billion budget boost outside the contract, which APC rejected.

The Authority's rejection to use a cement mix requested by GUPC for the construction of the third set of locks is the main reason for the delays in the works, GUPC said.

Full story (in Spanish)