The Panama Canal hit by USD 1.6 billion dispute

The work to expand the Panama Canal could be delayed even further following a dispute between the builders and the canal authority related to overspending for around USD 1.6 billion.

Photo: Hamburg Süd

The expansion of the Panama Canal could become even further delayed following a serious dispute between the Panama Canal Authority (PCA) and the consortium of builders. The dispute concerns overspending for approx. USD 1.6 billion, according to Reuters.

The project is already priced at USD 3.2 billion, and the USD 1.6 billion in overspending should be seen by the PCA as a consequence of the contract, says the building consortium, which consists of Spanish Sacyr, Italian Impreglio, Jan De Nul of Belgium, and Panama's Constructora Urbana, SA. The  combined consortium operates under the name Grupo Unidos por el Canal, but the group's demand is flatly rejected by the canal authority.

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