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February 6, 2014

$1.6B overrun dispute halts canal expansion

  • A Spanish-led construction consortium won the contract in 2009, bidding $3.1 billion for its portion of the job, $1 billion less than Bechtel's bid.
  • By JOSHUA GOODMAN
    Associated Press

    PANAMA CITY — Work on the ambitious Panama Canal expansion project was halted Wednesday after talks broke down on how to settle a dispute over $1.6 billion in cost overruns.

    Panama Canal Authority Administrator Jorge Quijano told a news conference the stoppage will give authorities time to analyze how to proceed on the project to widen the canal.


     
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