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The new Panama Canal is a risky bet

Thursday, June 23, 2016

On July 8, 2009, the champagne finally flowed. After an intense two-year competition, a consortium led by a Spanish company in severe financial distress learned that its rock-bottom bid of $3.1 billion had won the worldwide competition to build a new set of locks for the historic Panama Canal.

But the $3.1 billion bet soon collided with reality.

Source: New York Times