Panama's president on Monday expressed confidence that a multi-billion dollar Panama Canal expansion will get back on track after a European-led consortium threatened to halt construction unless it gets paid for massive cost overruns.
As we reported last week, Spanish builder Sacyr, the leader of a consortium known as Grupo Unidos por el Canal (GUPC), which includes Impreglio of Italy, Belgian firm Jan De Nul and Constructora Urbana of Panama, said the Panama Canal Authority, which runs the waterway, has until January 20 to come "in line with the contractual terms" or it will walk away from the project.