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Spanish firm risks US$574m loss over Panama Canal spat

Work continues: Sacyr has made claims of US$1.6 billion in extra costs and said the canal extension would not be completed until June 30, 2015. - PHOTO: REUTERS

[MADRID] Sacyr, the Spanish building company leading a consortium to expand the Panama Canal, said it risks losing US$574 million in guarantees and advance payments if a spat over cost overruns at the multi-billion dollar project is not resolved. In an eight-page document sent on Friday to Spain

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