LatinNews Regional Monitor: Caribbean & Central America - 13 December 2018

* The Panama Canal authority (ACP) has announced that a US-based arbitration panel has ordered Grupo Unidos por el Canal, S.A. (GUPCSA), the multinational construction consortium behind the Panama Canal expansion project, to pay back US$847.6m. The ruling from the Miami-based International Chamber of Commerce (ICC) tribunal stems from a protracted dispute between ACP and GUPCSA (which comprises Spain’s Sacyr Vallehermoso, Italy’s Impreglio, Belgium’s Jan de Nul, and Panama’s Constructora Urbana S.A [Cusa]) over cost overruns related to the canal’s expansion, which was completed in 2016.

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