Panama Canal rejects proposals from Italian consortium

Jorge Quijano, administrator of the Panama Canal Authority (PCA) said he could not negotiate new proposals from the Italian company Salini Impregilo, which “were outside the contractual context” and were designed to maintain the expansion work of the oceanic route.

Meanwhile, the chief executive of the Italian construction, Pietro Salini said he submitted two proposals to end the problems caused by additional costs of $ 1,600 million in the expansion project.

Salini Impregilo is part of the consortium Grupo Unidos por el Canal (GUPC), led by Spanish construction firm Sacyr, which threatened to stop work on a project to widen and to deepen the canal whose cost was estimated at about $ 5,250 million.

Pietro Salini