ACP & New Locks Contractor Set to Complete Canal Expansion
The Panama Canal Authority (ACP) and the consortium Groups Unidos por el Canal (GUPC) signed today 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).
Locks Work to Restart at Panama Canal
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.
ACP: Contractor’s Intent to Suspend Work Lacks Merit
After analyzing the letter received on December 30, 2013 by the new locks contractor Grupo Unidos por el Canal, S.A. (GUPC), which was made public on January 1 by GUPC, the Panama Canal Authority (ACP) determined that it is not valid and that the arguments raised by the contractor in the note lack legal basis and are not clear. Therefore, it does not give any reasons for the contractor to suspend the work. In a letter, the ACP reminded the contractor that on December 13, 2013…
