Panama Canal Expansion: GUPC Delivers New Proposal

GUPC has announced that they will continue its efforts to find a solution and reach an agreement with ACP, and has delivered a new proposal that takes into account the concerns of ACP while providing funding necessary to finish the Third Set of Locks project.

Pending an agreement, works on the Third Set of Locks Project for the Panama Canal extension have been suspended expressly due to the refusal of ACP to extend a Negotiation Protocol aimed at reaching a solution to permit the continuation and completion of the works.

GUPC issued an initial notice of suspension on December 30, 2013 and chose voluntarily to defer the suspension of the works as a sign of good faith in an effort to facilitate negotiations.

They proposed and agreed to a Negotiation Protocol with ACP to protect the project from suspension and from ACP’s threats of termination ans proposed to extend the Protocol in a continued effort to reach a solution. ACP refused, and the Protocol expired.

Moreover, ACP has failed to pay a pending $50 million invoice despite all impediments being removed, or otherwise assist in funding the costs of the project needed to pay subcontractors and workers.

Related:

GUPC Continues to Seek Solution for Panama Canal

Press Release, February 10, 2014

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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