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Consortium agrees to not halt work on Panama Canal

The looming halt in work on the Panama Canal was deflected at the last minute on Sunday, and the four construction companies that form the consortium behind the canal expansion will continue work on Monday, according to Reuters.

Photo: Maersk Line

Trouble has long been brewing in the area around the Panama Canal, where canal authorities and construction firms, working to establish the large-scale canal expansion, have disagreed on how to proceed from a budget overspending of USD 1.6 billion.

On the one hand are the four companies in the Grupo Unidos por el Canal (GUPC) consortium, which won the rights to build the canal. On the other hand is the Panama Canal Authority (PCA), which has now received a bill from the GUPC that exceeds the budget the consortium won the rights on by USD 1.6 billion.

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