Panama Canal: Talks Continue on New Locks Project

The Panama Canal Authority (ACP) has announced that a meeting between ACP, Zurich American and Grupo Unidos por el Canal, S.A. (GUPC) (formed by the companies Sacyr Vallehermoso, S.A., Impregilo, S.p.A., Jan de Nul Group and Constructora Urbana, S.A. (CUSA)), took place yesterday.

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.

[mappress]

Press Release, January 29, 2014