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ACP Demands GUPC To Resume Works on New Locks Project

Date: 05-FEB-2014

Panama City, Panama, February 5, 2014 - The ACP demanded today that Grupo Unidos por el Canal (GUPC), the consortium in charge of the construction of the third set of locks, resume work on the project as required by the contract. GUPC is 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).

After two weeks of negotiations, which saw production levels drop to 25%, almost all activity has ceased.

The Canal Administrator, Jorge Quijano, stated that ACP continues to try to find a solution, but stressed that the contractor must resume normal activity which is especially crucial during the dry season in Panama.

"ACP continues to keep the door open for a reasonable resolution within the contract," Quijano reiterated.

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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