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Work likely to resume on expansion of Panama Canal

Italian contractor major player in building consortium

20 February, 12:11
Work likely to resume on expansion of Panama Canal (ANSA) - Milan, February 20 - Work was expected to resume Thursday on the expansion of the Panama Canal - good news for the Italian company that is a major player in the building consortium.

Work had been halted earlier this month because of a dispute over cost overruns totaling as much as $1.6 billion.

However, suppliers have reportedly been paid, freeing the way for work to resume.

Italian company Salini-Impregilo makes up 38% of the building consortium working on the $5.25-billion expansion project.

The Spanish-led consortium, known as the as Grupo Unidos Por el Canal (GUPC), and the Panama Canal Authority have been locked in a dispute over the cost overruns for weeks.

As many as 10,000 jobs have reportedly been affected by the dispute.

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