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Panama Canal may take over expansion

Wednesday, January 15, 2014

The Panama Canal Authority said it might take over a key part of the waterway's expansion if the consortium in charge of the project makes good on a threat to suspend work.

Authority chief Jorge Quijano said the remaining work, which could be taken over as early as February, would cost about $1.5 billion.

"We have to act immediately to make sure that the project isn't suspended for an excessive time," said Quijano.

Source: Reuters