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Panama Canal officials, expansion builders to meet

January 7, 2014

PANAMA CITY (AP) — The director of the Panama Canal says he and other Panamanian officials will meet with representatives of a consortium responsible for the canal’s expansion to try to avert a suspension of work on the project.

Jorge Quijano says the group will meet Tuesday, more than a week after the Grupo Unidos por el Canal’s threatened to stop the canal’s expansion over a cost overrun of $1.6 billion.

The meeting was agreed upon after Quijano and other canal officials met Monday with Spain’s Public Works Minister Ana Pastor.

Grupo Unidos por el Canal’s first had said it would take $3.2 billion to build a third set of locks. The consortium is formed by Spain’s Sacyr Vallehermoso, Impregilo of Italy, Jan De Nul of Belgium and Constructora Urbana SA of Panama.

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