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Panama Canal Spat Deepens As Italy's Impregilo Wades In

By DMO Affiliate
Italian builder Salini Impregilo on Wednesday proposed a deal to keep work going on expanding the Panama Canal despite huge cost overruns, but would cost the canal authority much more than an earlier proposal. The latest proposal showed signs of a schism in the Spanish-led consortium that has been expanding the canal. Observers said it could represent an attempt by the Italian company to wrest control of the group from Spanish construction company Sacyr. The building consortium, Grupo Unidos por el Canal, has threatened to stop work on part of a project to widen and deepen the canal, a major global cargo artery, that was originally expected to cost about $5.25 billion.
Panama Canal Spat Deepens As Italy's Impregilo Wades In

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