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Panama Canal, GUPC and Zurich American to Continue Talks on New Locks Project

Date: 28-JAN-2014

Panama City, Panama, January 28, 2014 - The Panama Canal Authority (ACP) informs that a meeting took place today between ACP, Zurich American and Grupo Unidos por el Canal, S.A. (GUPC) (formed by the companies Sacyr Vallehermoso, S.A (Spain), Impregilo, S.p.A. (Italy), Jan de Nul Group (Belgium) and Constructora Urbana, S.A. (CUSA) (Panama)).
The parties agreed to continue the meeting tomorrow, Wednesday, to further evaluate options to establish alternatives to reach an agreement.

In the meeting, the ACP reiterated its demand that any agreement between the parties must be reached on the basis of the law, regulations and the contract signed between both parties. It also reiterated its willingness to comply with its responsibilities to ensure that GUPC abides to the contract.

The ACP reaffirms its commitment to inform the public of any changes in the current situation.

About the Panama Canal Authority (ACP)
The ACP is the autonomous agency of the Government of Panama in charge of managing, operating and maintaining the Panama Canal. The operation of the ACP is based on its organic law and the regulations approved by its Board of Directors. Please refer to the ACP's website: http://www.pancanal.com/ or follow us on Twitter @thepanamacanal.


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