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Panama expansion continues alongside negotiations

Thursday the building consortium on the Panama Canal, GUPC, will resume work on the canal expansion project, says the Panama Canal Authority. However, the dispute between the two parties is far from resolved.

Photo: Hamburg Süd

Thursday work will resume on the Panama Canal expansion, once building consortium GUPC goes back to work, says the Panama Canal Authority according to Reuters. However, this does not mean that the budget dispute - related to USD 1.6 billion in overspending on the expansion - is over, and the two parties have allocated the next 72 hours to find solutions for the key points of contention.

"There are still some issues on which an agreement has not been reached," says the authority in a statement, according to Reuters, after the parties had reached an agreement over a telephone conference. Wednesday had been set as the deadline for reaching a form of agreement, which happened in part.

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