Friday, January 2, 2015

Panama Canal will pay cost overruns – La Prensa de Honduras

Panama Canal will pay cost overruns – La Prensa de Honduras

Panama City, Panama

An instance of conflict resolution determined that the authorities of the Panama Canal will pay $ 233 million for cost overruns to the group of European companies by construction of new terminals for the expansion of the waterway.

The claim of contractors refers to the type of concrete mix and the addition of basalt, an aspect in which the group argued that had higher costs than those stipulated in the contract.

The group met with the transfer of 12 of 16 gates were missing for moving from Italy to Panama.

The expansion project will be in fully operational in the first quarter of 2016, albeit with a delay of a little over a year, as originally planned. So far, the work has a general advance of 84%.

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