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Panama geological studies lead to cost overruns

Canal incurred extra US$1.6b in costs due to flawed studies

Damage is done: GUPC officials told reporters that when excavations to build the locks began, they found that the geology of the area was more complex than had been made clear when the project was tendered. - PHOTO: REUTERS

[PANAMA CITY] Flawed geological studies of the terrain of the Panama Canal by its operator has led to big cost overruns in the project to expand the waterway, the building consortium at the centre of a dispute with Panama's government over the plan said.

Last week, the consortium led by...

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