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Panama Canal gets extra $400 million funding

Tuesday, September 16, 2014


 

The Panama Canal received extra financing worth $400 million in order to complete its expansion, the waterway's administrator Jorge Quijano said.

The project is already a year late, after a delay due to a disagreement between the consortium in charge of the project, GUPC, and the Canal Authority over a $1.6 billion overrun.

After talks, both parts agreed to add $600 million, of which $400 million will be financed by Zurich America International.

Full story (in Spanish)