Panama Canal proposes joint financing to end cost row


  • World
  • Tuesday, 07 Jan 2014

The logo of Spanish builder Sacyr is seen on the company's headquarters in Madrid January 4, 2014. REUTERS/Andrea Comas

PANAMA CITY (Reuters) - The head of the Panama Canal proposed on Monday that it and a Spanish-led consortium expanding the major maritime cargo artery plug a financing gap between them, and said the sides had agreed to talks on Tuesday to defuse a row over huge cost overruns.

The governments of Spain and Panama distanced themselves from the dispute, saying it should be resolved by the Panama Canal Authority and the consortium led by Spanish construction company Sacyr.

Subscribe or renew your subscriptions to win prizes worth up to RM68,000!

Monthly Plan

RM13.90/month

Annual Plan

RM12.33/month

Billed as RM148.00/year

1 month

Free Trial

For new subscribers only


Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
   

Next In World

Four troops killed in Islamabad as marchers demand release of Imran Khan
Peru's small miners block highways, camp outside Congress demanding registry extension
Russia advances in Ukraine at fastest monthly pace since start of war, analysts say
Is Outlook down? Thousands of Microsoft 365 users report outage issues
Japan's space agency halts Epsilon S rocket engine test after fire
Indonesia province resumes search for 7 missing after landslide and floods kill 15
Russia pledges broader Afghanistan ties, says US should help rebuild
Researchers: Wildlife monitoring tech used to harass, spy on women in India
Lebanese lawmaker says ceasefire deal with Israel nearing
White House says 'significant progress' made in Israel-Hezbollah ceasefire talks

Others Also Read