Recently, the Office of Panama and the Canal consortium Grupo Unidos reached an agreement to complete the work on the expansion of the Canal in 2015 without further delay and stops.
According to the president of Sacyr, it was decided to continue the expansion of the waterway. The agreement supposes that labor force will be used in similar amount, as recently there was a halt of works due to the lack of liquidity. The agreement has addressed all the problems which appeared during the halt.
Resumption of work will allow almost 10 thousand workers to come back to their job. December 30 last year the consortium Grupo Unidos notified the Office of the Canal of Panama that in case of non-recognition of the excess of project costs by $1.6 million there works would be suspended, which is what happened later.
Subsequently, after negotiations it was decided to resume works starting from February 20, and as a result last week the parties came to an agreement and have agreed to complete the work in 2015. At the moment the third set of locks has been completed by 70%.
