Consortium Threatens to Halt Panama Canal Expansion

Consortium Threatens to Halt Panama Canal Expansion

The consortium carrying out a historic expansion of the Panama Canal says it may have to suspend work due to the financial problems, according to foxnews.com.

Led by Spain’s Sacyr Vallehermoso, the consortium, which also includes Impregilo of Italy, Jan De Nul Group and Panama’s Constructora Urbana, is claiming $1.6 billion (1.16 billion euros).

The project is nine months behind schedule and is now due for completion in June 2015, reports euronews.com.

[mappress]

Dredging Today Staff, January 2, 2014

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