New panama canal locks operational by January 2016

The Panama Canal Authority (ACP) says it fully expects the new locks to be operational by January 2016. This follows recent industrial action by construction workers on the canal expansion project, which is already one year late and US$1.6 billion over budget. In the latest dispute, in April 2014, workers walked out demanding higher wages. It is estimated that the project is about 75 per cent complete.

In July, the ACP and the consortium of companies building the new locks signed an agreement to vary the original contact to ensure completion of construction work to the new deadline. The Grupos Unidos por el Canal (GUPC, SA) includes Sacyr of Spain, Impregilo of Italy, Jan De Nul of Belgium and Constructora Urbana, SA (CUSA) of Panama.