"We are open to all options," says Panama Canal Authority

Countries More News
"We are open to all options," says Panama Canal Authority

The Panama Canal Authority (ACP) said it would continue talks with the Grupo Unidos por el Canal (GUPC) consortium, following a contract dispute that brought work to a stop on the canal's expansion.panamacanal

The consortium, contracted to carry out canal renovation, announced it would be forced to halt work this week, alleging non-cooperation on the part of ACP negotiators.

"Pending a functional agreement to complete the project, work has been suspended due to the express refusal of the ACP to extend the negotiation protocol aimed at achieving a solution that allows the continuation and completion of the works," GUPC said late last week.

The group said it lacked financial support to finish expansion plans, including a third set of locks on the canal. GUPC originally threatened stoppages in December, but temporarily post-poned action to continue negotiations with the canal authority.

PCA administrator Jorge Luis Quijano said yesterday that the authority was open to continue discussion on reinitiating work, an updated implementation schedule and financial contributions by all parties.

"We remain open to all options under the contract, taking each step with calm and restraint. The basics of the position of the ACP remain the same. As soon as we reach a decision, we will let you all know," Quijano said in a press statement.

Related story: Despite growing pains, Panama Canal reports record quarter

Photo: Panama Canal Authority



Subscribe to our newsletter