Panama Canal Expansion Work Resumes Today

The new locks contractor Grupo Unidos por el Canal, S.A. (GUPC) accepted Panama Canal Authority’s (ACP) repeated request and agreed to restart on Thursday, February 20 the construction of the Third Set of Locks project.

GUPC is formed by companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama).

As soon as works are resumed, ACP will pay GUPC $36.8 million for December invoices to ensure that GUPC cancels pending payments and obligations to suppliers.

Additionally, the parties agree to discuss in the next 72 hours other points such as the dates for the delivery of the gates, an implementation schedule for the remainder of the works, a timetable of repayment moratorium and other key aspects for the project’s development.

The decision was made today during telephone conversations between the ACP and the CEOs of the companies in the consortium, but there are still some issues on which an agreement has not been reached.

 

Get the free newsletter

Sign up for news, trends and equipment for sale in the lifting and rigging industry.
By signing up you agree to our Terms of Use and Privacy Policy. You may unsubscribe at any time.

Latest Products For Sale

Type Description
Equipment National Brand - Used 5x7 and 6x12 Dies - All dies meet specifications - Various…
Equipment 100 Feet of Steel Framing • Last four sections of pre-owned 1.3 mil test bed…
Equipment 300K – 62 ft. PTM SATEC • Hydraulic guards • 62’ overall length • 6’…
Equipment 100K x 40 ft. Single Range, 7.5HP Manual Control Texmate Readout, 2’ Stroke – Tube…
Equipment Refurbished 500K Lucker Wire Rope Grip • Manual Operated • Front Face Mount • 500,000…

News & Articles