Time running out for Canal Authority after 5th day of work stoppage

THE CLOCK has almost run out on the chance for the two sides involved in the battle over  funding, to reach an agreement.

After days of failed face to face talks between Grupo Unidos por el Canal (GUPC) construction consortium, and the Panama Canal Authority (ACP), both sides issued new proposals last week.

 But the ACP now believes that itsproposal made last Friday will be the last in its efforts to find a negotiated solution to the crisis of insolvency of Grupo Unidos por el Canal.
Late Sunday, reports La Prensa, the fifth day of complete stoppage of work of the third set of locks, GUPC lawyers prepared, a counter proposal for study by the administration of the ACP.
If the deadlock continues the ACP is faced with hiring another group to complete the work the work, and catching up on a project initially scheduled for completion in 2014, but already more than 9 months behind. Concerns have been raised in the U.S ., where many ports have been busy developing facilities to receive the super container ships that the Canal expansion will allow.