Panama Canal expansion's most expensive jobs threaten to run over budget

2012 02 28

THE most critical and expensive phases of the US$5.25 billion Panama Canal expansion programme may soon run over budget and require more funding, says Jorge Quijano, executive vice president of engineering at the Panama Canal Authority (ACP).

In a lengthy interview appearing in UK-based Infinity Business Media, Mr Quijano said extra funds would be needed to completing the channel that connects the new Pacific locks to the Culebra cut to bring the locks project to completion on time.

"We started with a large contingency fund containing over $1.5 billion to account for inflation and all sorts of possible unknowns in the field. As projects were designed, bids made and awarded at or under budget the remaining contingencies have been consolidated to complement the final components of the expansion if we see that they are needed," he said.

Source Shipping Gazette - Daily Shipping News

The magazine SEA has been published since 1935
International business magazine JŪRA MOPE SEA has been published since 1999
The first magazine in Eurasia in the four languages: English, Chinese, Russian and Lithuanian


International business magazine JŪRA MOPE SEA
Minijos str. 93, LT-93234 Klaipeda, Lithuania
Phone/Fax: +370 46 365753



Ltd. Juru informacijos centras

The magazine JŪRA has been published since 1935.
International business magazine JŪRA MOPE SEA has been
published since 1999.

ISSN 1392-7825

2017 ©