Caribbean & Central America - March 2014 (ISSN 1741-4458

Deal reached over Panama expansion project: Late last month the Panama Canal authority (ACP) announced an “agreement in principle” with the international consortium, Grupo Unidos por el Canal (GUPC), as to who should foot the bill for the US$1.6bn cost over-run of the US$5.3bn Panama Canal expansion project [RC-14-01] – a dispute which saw works grind to a halt last month. Even with the deal, the completion date of the expansion project has already been pushed back by a further six months to December 2015.

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