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Sacyr still hanging on for $5 billion Panama Canal payday

Friday, March 1, 2019

Spanish constructor Sacyr and its partners who built the expansion of the Panama Canal, are still awaiting claims for $5.2 billion for the cost over-runs that generated the project.

Of the total, $2.2 billion is Sacyr's share. The partners were Italy`s Impregilo, Belgium's Jan de Nul and local firm Cusa.

Sacyr reckons that the claims will be resolved by the end of this year, though it could face challenges that would stretch the deadline to 2023.