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Grupo Unidos por el Canal claims $3.5 billion in cost overruns The consortium Grupo Unidos por el Canal (GUPC) delivered the completed third set of locks to the Panama Canal Authority (ACP) on June 25. But it also submitted something else, a $3.5 billion bill for additional costs. The claims exceed the value of the original contract, which was awarded to the consortium in 2009 for $3.1 billion. There are $569 million in claims pending before a conflict resolution board and $527 million pending before an international arbitration panel, the final step in the claim
This is an excellent article, albeit long, dealing with the growth of business in Panama which is occurring as a result of the Canal expansion. From the Martes Financiero or Tuesday Financial edition of LaPrensa. The Load is Multiplied SHERLY DÍAZ / ÓSCAR CASTAÑO freetranslation,com ..partial edit by me. During the ten years it took for the construction of the widening of the Panama Canal, a total of 431 companies participated in this megawork of engineering. Some provided inputs for the construction. Other services provided energy, dredging, bunkering, technica