Odebrecht  hit with daily sanctions for unfinished airport terminal

Time has run out for the completion of Tocumen International Terminal 2 by the Brazilian Odebrecht Construction company which has had numerous addendums escalating the price from an initial $670 million to $917 million and,  as of   October 1, Tocumen SA is applying sanctions on a daily basis until the work is completed.

A statement says :

“In compliance with the provisions of the contract, Tocumen SA will have the power to execute the compliance bond without having to wait for the term agreed in Addendum 6, which extends the contract for a period of six months, for the company to complete and deliver the project, without this representing additional costs for the air terminal. “

On  October 1, a team of engineers from Tocumen SA and the Comptroller General began the detailed evaluation of the pending components of the work that had to be delivered on September 30, according to the schedule approved in the contract