Skip to content
Subscriber Only

Panama Canal Agency Settles With Sacyr Group on Expansion

The Panama Canal Authority agreed with a group of builders led by Sacyr SA on a deal to end a two-month dispute over expansion of the waterway, as the Spanish company took a charge for projected losses that may emerge.

The canal authority and the GUPC group of companies reached a “conceptual” agreement, both parties said in separate statements. The accord will help “jump start” expansion work and will be signed March 6, Jorge Quijano, the waterway’s chief administrator, said today in a conference call with reporters.