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Italian govt keeping close watch on Panama Canal dispute

Italy's Salini Impregilo working on expansion

17 January, 18:56
Italian govt keeping close watch on Panama Canal dispute (ANSA) - Rome, January 17 - The Italian government said Friday that it was paying "maximum attention" to the dispute between the Panama Canal Authority and the consortium that is working on a huge expansion of the canal.

An Italian company, Salini Impregilo, is part of the mostly European consortium that has the $5.25 billion contract to do the expansion.

The consortium has said work will stop next week if the authority fails to cover $1.6 billion in cost overruns.

An Italian government statement that the administration had "activated contacts with the governments of the countries interested and the European and international financial institutions that are financing the project". European Industry Commissioner Antonio Tajani told ANSA that the EU was "ready to intervene" if "all the European firms involved request this".

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