Panama Canal Chief Says New Locks Working by January 2016

PANAMA CITY, June 10 (Reuters) - The Panama Canal's new set of locks will be operational by the January 2016 deadline, the canal's chief said on Tuesday, after fears that a recent labor strike could have further delayed the project. "In January 2016 the widened canal will be working," Panama Canal Administrator Jorge Quijano told reporters. "We have already completed between … [Read more...]

Panama Canal Expansion Consortium Sign Deal To End Dispute

By Sonya Dowsett MADRID, March 14 (Reuters) - A construction industry consortium led by Spain's Sacyr said in a statement on Friday it had signed a deal late on Thursday to complete work on the multi-billion dollar project to widen the Panama Canal, settling a long-running dispute over cost overruns. Hold-ups on the massive engineering project, which involves the … [Read more...]

Panama Canal Authority Reaches Deal With Sacyr on Expansion

Feb. 28 (Bloomberg) -- The Panama Canal Authority agreed with a group of builders led by Sacyr SA on a deal to end a two- month dispute over expansion of the waterway, setting a deadline for the work to be finished by the end of next year. The canal authority reached a “conceptual” agreement with the consortium, it said in an e-mailed statement late yesterday in Panama. … [Read more...]

Consortium Resumes Work On Panama Canal Expansion -UPDATE

By Lomi Kriel and Sonya Dowsett PANAMA CITY/MADRID, Feb 20 (Reuters) - A Spanish-led consortium resumed expansion work on the Panama Canal on Thursday, raising hopes the two sides will finally draw a line under an acrimonious stand-off over massive cost overruns. As workers returned to the construction site after a stoppage lasting more than two weeks, a source close to … [Read more...]

Panama Canal Work to Restart Thursday

The Panama Canal Authority said that it has reached a deal with the construction consortium that will allow for work to resume on the third set of locks in the Panama Canal expansion project. A statement late Wednesday by the Panama Canal Authority (ACP) said the new locks contractor Grupo Unidos por el Canal, S.A. (GUPC), led by Sacyr of Spain and Italy’s Salini Impregilo, … [Read more...]