Since December last year, attention has been focusing on a potentially very expensive falling out between the Panama Canal Authority (APC) and one of its main contractors in the ambitious project to widen the 100 year-old waterway: Grupo Unidos por el Canal (GUPC), the civil engineering consortium led by Sacyr Vallehermoso of Spain and including Impregilo of Italy, Jan de Nul of Belgium and Constructora Urbana (CUSA) of Panama. At first glance, the quarrel has been over who should pick up the bill for an estimated US$1.6bn worth of cost overruns on the US$3.2bn canal locks contract. But the implications go much wider than that. End of preview - This article contains approximately 863 words.
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