Less than a day after both sides pledged to work together to resolve a disagreement threatening to stop work on the $5.2-billion Panama Canal Third Lane Expansion, project owner the Panama Canal Authority and Grupo Unidos por El Canal, its joint-venture contractor, once again hardened their stances on the cost overrun dispute.
In a Jan. 8 statement, Italy’s Salini Impregilo S.p.A., a member of the GUPC consortium that is building the new locks for the waterway, reiterated an immediate need for the authority to provide an additional $1 billion in funds set aside for contingencies and unforeseen circumstances immediately.