Thursday, April 17, 2014

Panama Canal work not likely to be halted Monday

January 19. 2014 2:35PM
Associated Press

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(AP) The Spanish-led consortium hired to handle the biggest part of the Panama Canal expansion says it does not foresee halting work Monday, but adds that it's an option if there is no resolution to a financial dispute.

The canal-building consortium known as United for the Canal says in a brief statement issued Sunday that stopping the expansion "is not a scenario being considered at this moment." But it says it's entitled to suspend work any time after Monday.

The group has given Panamanian Canal authorities a Sunday deadline to come up with the funds to cover $1.6 billion in cost overruns. The authority insists the consortium live up to the terms of the original contract.

No agreement had been reached as of Sunday.

Associated Press

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