You are here

Panama Canal Authority to appeal US$233m award to contractors

CANAL87.PNG
The Panama Canal Authority said on Tuesday it had asked for an international arbitration panel to review a decision to award US$233 million to the consortium expanding the canal in a dispute over cement quality.

[PANAMA CITY] The Panama Canal Authority said on Tuesday it had asked for an international arbitration panel to review a decision to award US$233 million to the consortium expanding the canal in a dispute over cement quality.

The consortium, led by Spain's Sacyr and Italy's Salini Impregilo, and including Belgium's Jan de Nul and Panama's CUSA, said in January it had won US$233 million of the US$463 million it claimed in the dispute.

Any international arbitration would take place in Miami, the canal authority said.

The consortium has filed a series of claims totaling some US$2.3 billion over the dispute that halted work early last year on the expansion to allow bigger vessels to pass through the canal.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes