Parties Agree to Complete Panama Canal Expansion

By Eric Haun
Monday, August 04, 2014
Photo: ACP

On August 1, 2014, the Panama Canal Authority (ACP) and the consortium Groups Unidos por el Canal (GUPC) signed the variation incorporating to the original contract the agreement reached in March for completion of the Third Set of Locks project.

"What remains now is to continue working with the commitment to complete the Expansion which is currently at a 78% progress," said ACP Administrator Jorge L. Quijano.

The Expansion Program registers an overall progress of 78%, while the new locks project is currently 73% complete.

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

The parties signed in March a Memorandum of Understanding (MoU) establishing the framework for the completion of the Third Set of Locks project.

This incorporation of this variation does not include any payment for cost overruns or claims. GUPC's claims must be processed following the mechanisms established within the contract.

pancanal.com
 

Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Ports

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

China Maritime Silk Road to Touch India for Namesake

Chinese officials on Saturday fleshed out some details for the country's ambitious 21st Century Maritime Silk Road (MSR) project in its “one belt, one road,” action plan.

News

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

Greece Will Sell Piraeus Port Stake in Weeks

The Greek government will sell its majority stake in the port of Piraeus within weeks, the country's deputy prime minister told China's official Xinhua news agency,

USNS Spearhead Delivers Materials to Ghana Charities

  The U.S. Navy’s joint high-speed vessel USNS Spearhead (JHSV 1) delivered wheelchairs and medical supplies to Ghanaian non-governmental organizations March 26, 2015.

 
 
Maritime Security Naval Architecture Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Repair Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.4893 sec (2 req/sec)