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Panama Canal deal signed, settling cost overruns dispute

Monday, March 17, 2014 - 06:00

Back to work: The Panama Canal Authority (PCA) and the consortium will each contribute US$100 million to get the work back on track. - PHOTO: REUTERS

[MADRID] A consortium led by Spain's Sacyr has signed a deal to complete work on widening the 100-year-old Panama Canal, it said, settling a long-running dispute over cost overruns that had put the multi-billion-dollar project in jeopardy. Insurer Zurich, whose agreement was necessary to get

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