Panama Canal claim on way to arbitrage

[MIAMI] A US$180 million claim involving the Panama Canal's disputed US$1.6 billion cost overrun is headed to arbitration court in Miami next week, canal officials said on Monday.

The claim by the consortium working on the massive canal expansion pro-ject is the first of several disputed construction costs that could end up in the hands of the Miami arbitrators.

The cost overrun temporarily halted work on the massive expansion project in February, and the Panama Canal Authority now says the project is on track to open in January 2016.