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Weekly Report - 23 January 2014 (WR-14-03)
PANAMA: A key deadline comes and goes
The international consortium Grupo Unidos por el Canal (GUPC) did not make good its threat to halt work on the US$5.3bn Panama Canal expansion project on 20 January [WR-14-01]. Yet there is no immediate end in sight to the stand-off between the Panama Canal Authority (ACP) and the GUPC over the latter’s call for the ACP to meet the cost of a US$1.6bn cost overrun. Meanwhile the ACP and construction unions have reported a significant decline in construction activity since late last year, when the dispute first emerged. This has raised further questions as to whether the project will be ready by its June 2015 deadline.
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