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Panama Canal and GUPC talks drag on

Panama Canal and GUPC talks drag on
The Panama Canal Authority (ACP) said on Tuesday that talks between representatives of the Canal Authority and the consortium GUPC were continuing, mostly through video conferences.

“We are opened to all options considered within the contract, going step by step with moderation and tranquility,” said ACP Administrator Jorge Quijano. “The ACP position remains the same.”

The discussions are based on the counterproposal presented by GUPC to the ACP last week and are centred on the following points: The continuation of the works; dates for deliveries of all the gates; an update chronology of execution; financial contributions of all the parties and the extension of the moratorium on advance payments.

GUPC stopped worked on the expanded Panama Canal last week after talks broke down of $1.6bn in cost overruns.