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Deadline looms in Panama Canal dispute talksDeadline looms in Panama Canal dispute talks
The deadline is looming in negotiations between the Panama Canal Authority (ACP) and lock gate contractor Grupo Unidos por el Canal (GUPC) with the Panamanian president Ricardo Martinelli saying they are very close to an agreement.
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Kalyakan - stock.adobe.com
Talks over resolving a dispute over $1.6bn in cost overruns on the Panama Canal expansion project were extended until 4 February.
"They are very close to arriving at a happy conclusion ... But I prefer for us to give time to the parties, who have set tomorrow as the final day, so that it may be they (who announce results), but I'm sure that they are close to arriving at an agreement," the president told reporters on Monday.
"I'm sure that the parties, before tomorrow, can arrive at an agreement that will be satisfactory for (them all). I understand that they are on the verge of getting there."
As the deadline approaches neither party has yet made a public statement on the outcome of the talks.
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