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December 14, 2018

Panama Canal team must repay $847M

PANAMA CITY (AP) — An international arbitration panel has ruled the Spanish-led consortium that built the expansion of the Panama Canal must repay $847 million in advances it received during the construction project.

A panel under the International Chamber of Commerce says the consortium must repay $547 million it got in 2009 when the project started and $299 million it got in 2014 when contractors were floundering.


 
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