Panama Canal, GUPC and Zurich American to Continue Talks on New Locks Project.
The Panama Canal Authority (ACP) announced that a meeting took place on Tuesday, January 28th between ACP, Zurich American and Grupo Unidos por el Canal, S.A. (GUPC) (formed by the companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama)).
The parties agreed to continue the meeting today, to further evaluate options to establish alternatives to reach an agreement. In the meeting, the ACP reiterated its demand that any agreement between the parties must be reached on the basis of the law, regulations and the contract signed between both parties. It also reiterated its willingness to comply with its responsibilities to ensure that GUPC abides to the contract. The ACP also vowed to keep the public aware of any changes in the current situation.
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal.