Multibillion-dollar Panama Canal expansion restarts
Temporarily halted work amid $1.6 bln extra costs dispute21 February, 15:35
The resumption of work comes amid an agreement that is scheduled to be signed on Sunday to deal with an extra $1.6 billion in unusual project costs.
Operations had been suspended temporarily over the payments dispute between the Spanish-led construction consortium and the Panama Canal Authority that appears to be near resolution. 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.