Expansion of Panama Canal Continues to Face Challenges
Panama Canal Authority administrator Jorge Quijano said in an interview published in the Spanish press Sunday that those in charge of the $5.25 billion expansion of the Central American nation’s inter-oceanic waterway are “prepared to be a little aggressive” and added that the project will be completed “as soon as possible.”
“We’re not going to sit here waiting for time to pass” without reacting after the consortium undertaking the expansion announced that it will suspend work if a cost overrun of some $1.6 billion is not acknowledged, Quijano told the Spanish daily El Pais.
The GUPC consortium (Grupo Unidos por el Canal), led by Spanish construction giant Sacyr Vallehermoso and including Italian firm Impregilo, Belgium-based Jan de Nul and Panama’s CUSA, formally advised the Panama Canal Authority on Dec. 30 that it would suspend work in three weeks if the authority does not agree to pay an additional $1.6 billion to cover cost overruns.
“With a stoppage there are going to be some additional delays,” the administrator said, but he added that he was confident about being “sufficiently agile … so that, in the worst case, the project will be able to be resumed and completed.”
The consortium “had to attach additional information to the letter” announcing the work suspension to justify “each one of those charges, to evaluate them and see if they have any merit, which … they do not have,” Quijano said.
He said that the authority had been “faithful to the contract” and had “paid religiously, so that the contractor may have a cash flow and continue with the work.”
Spanish Development Minister Ana Pastor is on her way to Panama, where she is scheduled to meet on Monday with Panamanian President Ricardo Martinelli to seek a solution to the conflict.
Pastor scheduled the trip after Martinelli announced last Friday plans to travel to Spain and Italy to demand of their governments that the companies from their respective countries fulfill the terms of the original contract.
Published in Latino Daily News
Source: http://www.hispanicallyspeakingnews.com/latino-daily-news/details/expansion-of-panama-canal-continues-to-face-challenges/28612#When:00:04:51Z
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world. Anyone can join. Anyone can contribute. Anyone can become informed about their world. "United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
LION'S MANE PRODUCT
Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules
Mushrooms are having a moment. One fabulous fungus in particular, lion’s mane, may help improve memory, depression and anxiety symptoms. They are also an excellent source of nutrients that show promise as a therapy for dementia, and other neurodegenerative diseases. If you’re living with anxiety or depression, you may be curious about all the therapy options out there — including the natural ones.Our Lion’s Mane WHOLE MIND Nootropic Blend has been formulated to utilize the potency of Lion’s mane but also include the benefits of four other Highly Beneficial Mushrooms. Synergistically, they work together to Build your health through improving cognitive function and immunity regardless of your age. Our Nootropic not only improves your Cognitive Function and Activates your Immune System, but it benefits growth of Essential Gut Flora, further enhancing your Vitality.
Our Formula includes: Lion’s Mane Mushrooms which Increase Brain Power through nerve growth, lessen anxiety, reduce depression, and improve concentration. Its an excellent adaptogen, promotes sleep and improves immunity. Shiitake Mushrooms which Fight cancer cells and infectious disease, boost the immune system, promotes brain function, and serves as a source of B vitamins. Maitake Mushrooms which regulate blood sugar levels of diabetics, reduce hypertension and boosts the immune system. Reishi Mushrooms which Fight inflammation, liver disease, fatigue, tumor growth and cancer. They Improve skin disorders and soothes digestive problems, stomach ulcers and leaky gut syndrome. Chaga Mushrooms which have anti-aging effects, boost immune function, improve stamina and athletic performance, even act as a natural aphrodisiac, fighting diabetes and improving liver function. Try Our Lion’s Mane WHOLE MIND Nootropic Blend 60 Capsules Today. Be 100% Satisfied or Receive a Full Money Back Guarantee. Order Yours Today by Following This Link.
