Canal expansion faces seven-month delay
Friday, 30 March 2012 | 11:34
The design and construction contract to build the third set of locks for the Panama canal is to suffer a seven-month delay.
The company undertaking the work has failed to meet the specific mix of concrete agreed for the work.
Nevertheless, the Panama Canal Authority insists that the project will open on time in October 2014.
The contract signed between the Canal Authority and the construction company imposes fines of $300,000 per day for each day that deadlines are not met, although there is a cap of the $54m.
Source: Port Strategy
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